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Expanding Pathways to Homeownership: REACH Launches Rose City Partnership

REACH Community Development is launching the Rose City Fund, a new partnership to repair and reposition 66 scattered site rental homes into affordable homeownership opportunities. This blog post explores how the program works, who it prioritizes, and how REACH is partnering with local and national organizations to support first-time buyers, current tenants, and long-term housing stability.

REACH Community Development is proud to announce a bold new chapter in our mission to create opportunities for all people to thrive: the launch of the Rose City Fund, a transformative initiative aimed at expanding access to affordable homeownership in Portland.

For decades, REACH has been a leader in affordable rental housing. Now, through the formation of Rose City Fund, we’re stepping into the homeownership space with a powerful new strategy: converting 66 scattered site rental homes—ranging from single-family homes to small multi-family buildings—into affordable ownership opportunities. These homes are primarily located in the Buckman neighborhood of Southeast Portland.

Why This Matters

Homeownership has long been out of reach for many Portlanders, especially first-time buyers and families of color. The REACH for Homeownership initiative is designed to change that. By offering existing tenants the first opportunity to purchase their homes and prioritizing first-time buyers and mission-driven nonprofits, we’re helping families build stability and generational wealth.

To support success, REACH is integrating:

  • Mortgage counseling
  • Down payment and closing cost assistance
  • Home repair resources

A Powerful Partnership

This initiative is made possible through collaboration with:

  • Brick By Brick Housing Corporation (B3) – bringing national expertise in affordable homeownership
  • Housing Partnership Network (HPN) – a trusted national association of nonprofit housing developers
  • APEX and Housing Partnership Fund – providing financial backing

Together, we’re ensuring homes are rehabilitated to a financeable condition, focusing on critical systems like roofing, plumbing, HVAC, and electrical work.

A Shared Vision for Homeownership

“Through the REACH for Homeownership initiative, we are piloting strategies to connect existing homes to residents and community members working toward the dream of homeownership.”  — Margaret Salazar, CEO of REACH

“This partnership reflects our shared belief that affordable homeownership is a cornerstone of building wealth and stability for families.”  — Scott Fergus, CEO of B3

“By prioritizing first-time buyers and permanently affordable models, this program helps ensure that more families can build wealth and put down roots in our community.”  — Dominique Merriweather, Executive Director of Proud Ground

Long-Term Impact

The Rose City Fund LLC will also generate proceeds to reinvest in REACH’s rental portfolio—repairing and preserving hundreds of deeply affordable homes across the region. This dual impact ensures that both renters and buyers benefit from long-term housing stability.

What’s Next

Home sales will roll out in phases over the next two years. REACH is working closely with local partners including: Portland Housing Center, Proud Ground, Urban League PDX, NAYA

We’re committed to selling at least 50% of homes to first-time buyers and 15% to current REACH residents. For those not purchasing, REACH will offer relocation support and financial assistance well above city requirements.

Interested in Buying a Home?

Are you a current REACH resident or a first-time homebuyer interested in purchasing one of the homes through the Rose City Fund program? Join our interest list to receive updates and be notified when homes are released for public sale.

  • 👉 Sign up here
  • 📞 Or contact us at .(JavaScript must be enabled to view this email address) for more information.

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