The affordable apartment community – about 10 miles from downtown Portland and along a MAX light-rail line – offers a community room, indoor bike storage and three-bedroom units for families
USA Properties Fund and Northwest Housing Alternatives have completed Terracina Vista, a much-needed affordable apartment community along a MAX light-rail line and near schools, shopping centers, parks and two freeways in Gresham.
Terracina Vista – located at 16503 E. Burnside Street, about 10 miles from downtown Portland – helps address the critical affordable housing shortage in the community, where more than half of renters are considered cost-burdened.
Some residents have already been moving into the 92-apartment community, which includes a community room, computer workstations and indoor bike storage, a much-appreciated feature in the bike-friendly Portland region.
Terracina Vista offers one- to three-bedroom apartments – able to meet the housing needs from single residents to growing families – for significantly less rent than nearby market-rate properties.
“We are thrilled to see Terracina Vista come to life,” said Gresham Mayor Travis Stovall. “The completion of this project represents a substantial commitment to pro-family development and affordability in Gresham, and we look forward to capitalizing on this momentum as we continue to realize our vision of housing for all.”
terracina vista in gresham, OREGON
Terracina Vista is possible thanks to a private-public partnership, with the City of Gresham, Oregon Housing and Community Services (OHCS), and Oregon Metro as subsidy lenders.
WNC & Associates is the tax credit investor on the $43 million development. The construction lender is Capital One and the permanent lender is Citi Community Capital.
“Oregon continues to work hard on developing more affordable housing and ensuring lower-income residents have quality, safe housing,” said USA Properties Fund President and CEO Geoff Brown, who knows the Portland-area well, earning a bachelor’s degree in economics from Willamette University in nearby Salem. “We have developed strong relationships in the region, and our new and longtime partners share the same mission of helping address the housing shortage in the Portland area.”
‘Making everyday life better and more affordable’
Terracina Vista is the second apartment community in Oregon for USA Properties Fund, which has more than 90 affordable and market-rate apartment communities in California and Nevada. The Roseville, Calif.-based company and Northwest Housing Alternatives completed The Canopy Apartments at Powell, a 169-apartment community in nearby east Portland, in 2024.
“We are thrilled to partner with USA Properties on this important project,” said Trell Anderson, Executive Director of Northwest Housing Alternatives. “Terracina Vista will bring much-needed safe and affordable homes to east Portland and Gresham. Located directly on a MAX line, this is a great jumping off point for working families and households.”
Affordable housing is one of the biggest concerns for residents in the Portland area, where more than half (51%) of households spend at least 30% of their income on rent, according to the Joint Center for Housing Studies of Harvard University.
Far-reaching and forward-looking efforts to address the critical shortage of affordable housing through legislation and local bond measures passed by voters in recent years attracted USA Properties to Oregon and helped pave the way for The Canopy Apartments at Powell and Terracina Vista at Gresham, Brown said.
“Boosting housing supply is about making everyday life better and more affordable for the people we serve,” said Andrea Bell, Executive Director of Oregon Housing and Community Services. “OHCS is grateful to have partners in Northwest Housing Alternatives, the city of Gresham and USA Properties Fund to make what often feels like improbable hope, an undeniable reality. Too many people go to bed every night and wake up in the morning worried about whether they will be able to make ends meet. The state continues to work to be a vigorous partner in bringing locally driven solutions.”
Affordable rent and great amenities
Terracina Vista is for residents earning less than 60% of the area median income – about $52,140 for a single-person household to $80,460 for a five-person household. Rents range from $1,347 for a one-bedroom apartment to $1,875 for a three-bedroom unit.
The four-story building includes a community room, computer workstations, indoor bike storage, elevators and laundry facilities. Apartments feature energy-efficient appliances and lighting, and low-flow faucets, showers and toilets.
Terracina Vista residents will enjoy affordable housing with a long list of amenities – and a hard-to-beat location, including easy access to MAX light-rail service.
“The property is also within walking distance of a Boys & Girls Club, which is a great resource for families, and we are excited to expand NHA’s Supporting Educational Success program to this community as well,” Anderson said.
Terracina Vista is in the Rockwood-West Gresham Urban Renewal Plan, an effort to boost the economy, improve job opportunities, provide more affordable housing and revive the neighborhood.
“Affordable housing serves as the foundation for building a better future, from improving health to the overall well-being of residents,” Anderson said.
USA Properties Fund will continue to look for more opportunities in the Portland region, Brown said.
“The Canopy at Powell has been a huge success, and we know Terracina Vista will be as well,” Brown said. “We are committed to developing more affordable apartment communities in the Portland area and are always looking for more communities and organizations to partner with.”