Affordable Student Housing Project: The Amy
Portland’s rental market has doubled within the last several years, with vacancy rates remaining incredibly low. The average price of a studio apartment near Portland State campus is $1689 per month (including furniture, utilities, and Internet based on a market analysis performed by The Scion Group in February 2016).
CHNW has initiated redevelopment of a former 30-unit student apartment building located just blocks away from the Portland State University campus at the foot of Portland’s Southwest hills. Construction for the $20 million housing project named The Amy, started in early November.
“College is already too expensive and adding to that price is the high cost of renting an apartment,” says David Garnand, Executive Director of CHNW. “We are really excited to be able to provide additional housing for students near campus. We feel strongly that students need more affordable options downtown,” says Garnand.
The Amy will provide 141 fully-furnished units within a 75,000 square feet, a five-story facility and will feature amenities including three student lounges with communal kitchens, a common room and connected outdoor patio complete with a BBQ and fire pit, and more than 200 bike parking spaces and 35 car parking spaces. Additional building services include on-site RA’s, a student resident council, along with student-focused activities, events, services, and resources.
For further information about The Amy, please visit: theamy.chnw.org