Housing Services:
Home Buying Success Stories

One of the most satisfying parts of our work is to help new families realize their dreams of homeownership and help existing homeowners make improvements to their homes so that they remain safe and livable.

These case studies tell just a few of the stories about how PDC staff and available programs have helped Portlanders meet personal goals and continue to improve our neighborhoods.

Read about how PDC's tax abatement programs help to bridge the homeownership gap for Portlanders.

Home Improvement

With traditional home lenders reluctant to finance the remodeling of a "commercial" building, and commercial lenders refusing to help fund a "residential" project, Patty and Tim Merrill turned to PDC for help financing the transformation and restoration of a 1914 Pacific Telephone and Telegraph exchange and one-time Masonic lodge into a mixed-use structure housing Tim's architectural firm on the ground floor and the Merrill's residence on the second floor.

Home Purchase

Along with with PDC's Oregon Bond Loan, which has a below-market interest rate, Joanna Gordon used PDC's Shared Appreciation Mortgage to purchase and renovate her house and realize her goal of home ownership. (See the complete article that appeared in The Oregonian; PDF file 3.8 MB)

"In 25 years, right about the time I retire, I will own this house free and clear. That is my goal." — Joanna Gordon

Jaimi Coward used one of PDC's Purchase with Renovation Loan programs to buy and remodel a 1920s home she had been renting.

"They [PDC] were wonderful. They handled all the paperwork, everything," she said. "I had no clue what I was doing." — Jaimi Coward

The contractor for the remodeling was found through what might be called "creative networking."

"Kevin is my friend's boyfriend's mother's best friend's son," Coward said. "I found him by word of mouth, and he's just great." Admittedly Ms. Coward retained her contractor through an unusual connection. You can also elect to work with PDC staff who will help you find a qualified contractor to ensure your experience is a positive one.

Pamela Kunse used PDC's help to finance and remodel her fire-damaged dream house. Pam wanted to restore the property to as close to its original 1909 look as possible. "Anything recycled is preferred. It's a better fit, and it's cheaper," says Pam.

The borrowers were just amazed by what they were able to achieve with the PDC Loan. "No one else was able to give us a loan package like this," Pam recalls. "The only way we could have received this kind of loan was through PDC. I'm not sure we would have ever gotten the services we received from PDC from any other lender."

Click image to read this article from the Portland Observer (PDF file).

Housing Development

Selected Key Projects of 2005

PDC provided $6.4 million of urban renewal funds for the New Columbia Housing development, which ranked #2 on the Portland Daily Journal of Commerce's (DJC) list of Top Projects of 2005. New Columbia is a community of 850 households. The project created 3-1/2 miles of new city streets and more than 125 original trees were preserved during the project.
PDC supported the Sitka Apartments development, which ranked #16 on the DJC's list of Top Projects of 2005.

Two six-story buildings separated by a landscaped courtyard will offer a mix of parking, retail, market-rate rental housing and affordable rental housing.

Sitka Apartments in Portland's Pearl District

Classified as the restoration of a historic landmark, the Hotel Alder redevelopment, ranked #55 on the DJC's list of Top Projects of 2005, was completely remade into a mixed-use facility with 99 single-resident apartments, for-sale condos and a restaurant and bar.