YARD is a 21-story, 284-unit, mixed-use multifamily project with 24,000 sf of ground floor commercial space located in Portland’s Burnside Bridgehead re-development area. As multifamily development continues to swell in Portland, affordability has become a critical issue. In response to the growing need for workforce housing, Guardian negotiated a 10-year tax exemption with the City of Portland in exchange for 57-units that will be offered to households at or below 60% median family income (MFI). The project was a joint venture between Guardian and Key Development.

Project Statistics:

  • Groundbreaking: 2014
  • Completion Date: 2016
  • Total Estimated Development Cost: $85M
  • Unit Mix: 284 Total; 42% Studios, 45% One Bedroom and 13% Two Bedrooms
  • Affordability: 20% Set aside for households at or below 60% MFI
  • Parking: 202 Stalls
  • 24,000 SF of Commercial Space
  • Amenities: On-site retail, community plaza with barbecue area, technology lounge, pet exercise area, bike parking and repair station, fitness center and full service day spa

Project Partners:

  • Developer – Guardian Real Estate Services
  • Developer – Key Development
  • Architect – Skylab Architecture
  • General Contractor – Andersen Construction Company
  • Financing Partners:
    • Bank of the Ozarks (Senior Lender)
    • Cornerstone Real Estate Advisors (Mezzanine Lender)