Guardian Real Estate Services‘ $14 million effort to preserve 69 apartment units as affordable housing began with an acquisition in 2012 and recently finished with a renovation.
The Portland-based firm, along with Enterprise Investment Partners, upgraded the Farmington Meadows apartments at 4566 S.W. 160th Ave. in Beaverton. The units are occupied by a tight-knit group of seniors and families – mostly Korean immigrants, according to Guardian.
The complex, built in 1982, was in need of major repairs. Guardian took over management of the property in 2008, but its section 8 housing contract was set to expire in November 2012. So, with the support of the U.S. Department of Housing and Urban Development (HUD), and Oregon Housing and Community Services (OHCS), Guardian bought the property and spearheaded a major renovation.Read Full Article