Hacienda CDC will complete an unfinished residential construction project at 1208/1220 N Jessup St in North Portland’s Overlook neighborhood, creating 57 affordable homes for families.
The development, named Monarca, will feature 42 two-bedroom units and 15 three-bedroom units for families with children.
The project was initially planned and partially constructed, but the original developer was unable to finish it. Hacienda CDC was approached in 2025 to take over and complete the development as affordable housing. In Spring of 2026, the Portland City Council appropriated $3.5 million to help Hacienda finish the building.
Project Features and Energy Efficiency
Monarca will include community spaces located on the ground, sixth, and seventh floors. On-site resident services staff from Hacienda will help connect residents with economic opportunities and community resources.
The development prioritizes renewable energy investments and energy efficiency to lower operating costs, reduce energy consumption, improve comfort, and support long-term affordability. Planned features include Energy Star appliances, high-efficiency insulation and ventilation, and in-unit mini-split heating and cooling. The Portland Housing Bureau awarded pass-through Portland Clean Energy Community Benefit Funds (PCEF) from the Bureau of Planning and Sustainability to support these energy goals.
Units Target 60% Area Median Income Near Transit
All 57 units will be regulated at 60% Area Median Income and are subject to the N/NE Preference Policy. This policy prioritizes housing individuals whose families experienced displacement due to the legacy of urban renewal in North and Northeast Portland.
The development site is situated three blocks away from a MAX light rail station and has nearby bus routes. Additional nearby amenities include grocery stores, parks, healthcare facilities, several schools, and Portland Community College’s Cascade Campus.
Development Team and Costs
The total estimated development cost is $57,748,932, which includes $1,072,140 from the Portland Housing Bureau. The development team includes Hacienda CDC as the sponsor, developer, and service partner, alongside co-developer Home First Development, general contractor LMC Construction, and architect Wright Architecture.
Keep reading