Habitat for Humanity in Portland Banks Bargain-Priced Land for Future Projects
Long-time pro-bono client Habitat for Humanity Portland/Metro East was recently featured in a story in The New York Times
for its innovative approach to providing homes by taking advantage of the depressed real estate market.
The Times reports that about three years ago, the nonprofit housing group started purchasing vacant land cheaply from banks at repossession and at foreclosure sales, figuring the land would provide housing sites for years. Habitat's foresight caught the attention of Portland philanthropist John D. Gray, who gave the effort $1 million, which attracted even more donations.
The national attention has been exciting for staff and supporters, and has created the opportunity for meetings with potential new donors, said Erika Read, Vice President of Resource Development for Habitat. She noted that the campaign goal is $12 million. Habitat has $2 million to go to complete its land bank and increase homebuilding from 20 to 30 homes a year.
Habitat has been a pro-bono client of Stoel Rives for more than two decades. Partner Bill Holmes served as counsel and board member in the late 1980s and 1990s. Currently, associate Michelle DaRosa carries on the firm tradition.
"Habitat for Humanity Tries A Large-Scale Approach To Housing in Oregon" was published in The New York Times on May 12, 2012.
Learn how you can help: Habitat for Humanity Portland/Metro East