Portland Community Reinvestment Initiatives Inc.

Portland Community Reinvestment Initiatives Inc. (PCRI) is a 501(c)(3) non-profit community development organization dedicated to providing affordable housing and promoting family stability, self-sufficiency, and wealth creation among low-income families in Portland, Oregon. Established in 1992, PCRI operates primarily in North and Northeast Portland, serving as a crucial anchor in preserving neighborhood diversity and vitality.

History

PCRI was formed in response to a housing crisis triggered by redlining and predatory lending practices in Portland's inner North and Northeast neighborhoods. After a local brokerage firm was convicted of racketeering and fraud, community leaders and government officials collaborated to create a solution. PCRI was founded to acquire endangered homes, assist families in securing conventional mortgages, and manage properties as long-term affordable rentals.

Objectives and Strategies

The organization's three main objectives are stability, self-sufficiency, and wealth creation.

• Stability: PCRI owns over 700 units of affordable rental housing, offering low-income families a stable living environment without the threat of frequent relocations. This unique blend of single-family homes, small multiplexes, and community apartments is woven into the fabric of Portland's vibrant neighborhoods, helping to eliminate poverty concentrations.

• Self-Sufficiency: PCRI provides culturally-competent resident services that foster family stability and leadership skills. These services are designed for children, parents, and families, offering essential tools for achieving self-sufficiency.

• Wealth Creation: PCRI's innovative Homeownership Program prepares residents for first-time homeownership, marking a significant step toward asset building and wealth accumulation. This program ensures that residents are well-prepared to transition from renting to owning their own homes.

Programs and Services

PCRI offers a range of programs and services aimed at enhancing family well-being and promoting economic stability. These include:

• Homeownership Programs: Providing financial education and assistance to help residents become homeowners.
• Financial Literacy Education: Equipping residents with the skills needed to manage finances effectively and build wealth.
• Community Development: Focusing on sustainable and environmentally friendly housing development, earning recognition for green initiatives.

Future Directions

PCRI continues to expand its portfolio of affordable housing, adapt its services to meet evolving community needs, and maintain its commitment to sustainable housing practices. By preserving affordable housing options and supporting pathways to homeownership, PCRI remains at the forefront of addressing Portland's housing challenges and fostering resilient, diverse neighborhoods.

[1] https://pcrihome.org [2] http://www.pcrihome.org [3] https://pcrihome.org/about/about-pcri [4] https://pcrihome.org/about/history [5] https://casaoforegon.org/maps/portland-community-reinvestment-initiative/