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Portland-based real estate firm Guardian has partnered with local nonprofit Robison Jewish Home to acquire and rehabilitate the Rose Schnitzer Tower, a senior housing community located at 1430 SW 12th Avenue in downtown Portland.
The partnership focused on a recapitalization effort to maintain the property’s affordability status while also securing low-income housing tax credits to fund capital improvements. Guardian officially acquired the property in December for $50.4 million and has committed an additional $9 million for rehabilitation work.
Ownership has transitioned to a new entity, the Rose Schnitzer Affordable Limited Partnerships. The move ensures the long-term affordability of the 235-unit, one-bedroom affordable senior housing community and guarantees federal rent assistance for the next 20 years. The financing, supported by low-income housing tax credits and private activity bonds issued by Oregon Housing and Community Services, aims to preserve critical housing options for low-income seniors.
The project underscores Guardian’s commitment to maintaining affordable housing in the region while supporting vulnerable populations through strategic investments and partnerships.
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