{"id":269544,"date":"2025-11-12T10:00:20","date_gmt":"2025-11-12T15:00:20","guid":{"rendered":"https:\/\/ncrc.org\/?p=269544"},"modified":"2025-11-12T12:43:16","modified_gmt":"2025-11-12T17:43:16","slug":"rebuilding-generational-wealth-how-portland-community-reinvestment-initiatives-creates-pathways-to-black-homeownership","status":"publish","type":"post","link":"https:\/\/ncrc.org\/rebuilding-generational-wealth-how-portland-community-reinvestment-initiatives-creates-pathways-to-black-homeownership\/","title":{"rendered":"Rebuilding Generational Wealth: How Portland Community Reinvestment Initiatives Creates Pathways to Black Homeownership"},"content":{"rendered":"

As one of the largest Black-led affordable housing nonprofits in the state of Oregon, Portland Community Reinvestment Initiatives (PCRI) continues to expand pathways to homeownership for Black communities systemically disenfranchised by discriminatory housing practices.<\/span><\/p>\n

Founded in 1992 after taking over properties from a discriminatory mortgage company, PCRI\u2019s holdings have grown to over 700 properties, including apartment complexes, mixed-used developments and over 350 single-family homes.<\/span><\/p>\n

Kymberly Horner joined PCRI as its executive director in 2019. She successfully expanded PCRI\u2019s property holdings in some of Portland\u2019s most popular and gentrified neighborhoods, with a goal of reviving historic Black communities in North and Northeast Portland.<\/span><\/p>\n

\u201cNot only are we an affordable housing nonprofit that does property management and resident services, we have our own maintenance team and operations team,\u201d said Horner. \u201cIt\u2019s like running a small city because we probably attend to over 3,000 residents.\u201d\u00a0<\/span><\/p>\n

Through a collaborative effort between city government and community groups, <\/span>PCRI<\/span><\/a> formed and took over the properties. Since then, it\u2019s grown to become one of the largest housing nonprofits in the state.\u00a0<\/span><\/p>\n

As far back as 1919, the Portland <\/span>Realty Board\u2019s Code of Ethics banned its members from selling homes to African Americans, according to the city government\u2019s <\/span>historical archives<\/span><\/a>.<\/span><\/p>\n

Promises of manufacturing jobs during World War II brought thousands of migrating Black Americans to the city. However, decades of redlining practices kept the Black community confined to the Albina area. Despite this, the community gained strength due to its close proximity, leading to the rise of a vibrant Black business and cultural hub nicknamed the \u201c<\/span>Harlem of the Willamette<\/span><\/a>.\u201d<\/span><\/p>\n

While urban renewal efforts in the 1970s and \u201880s led to some homes being torn down, it was ultimately predatory mortgage companies that threatened the homeownership dreams of thousands of Black families. With banks refusing to offer home loans to Black residents at the same rates as White residents, predatory lenders began to offer loan terms that effectively forced Black residents out of their communities.<\/span><\/p>\n

\u201cThey would get foreclosed on and this mortgage company would get the properties recycled and back into the market for the next unsuspecting families to fall victim of that,\u201d said Horner retelling a story first uncovered by a series from the Oregonian titled, \u201c<\/span>Blueprint For A Slum<\/span><\/a>.\u201d<\/span><\/p>\n

Moving forward, PCRI will expand efforts to provide housing for the Black communities\u2019 most vulnerable residents. On October 24, PCRI cut the ribbon on its first Permanent Supportive Housing Development, which will support 40 Black seniors coming out of homelessness.\u00a0<\/span><\/p>\n

\u201cWe felt very strongly that the senior population needs to stay connected to the community,\u201d\u00a0 said Horner. \u201cThey were the grassroots and really the backbone of the Black community before it got historically displaced.\u201d\u00a0<\/span><\/p>\n

Over the next 10 years, PCRI hopes to create 1,000 more units with 800 of them being reserved for homeownership opportunities.<\/span><\/p>\n

\u201cThat’s really exciting because we don’t want people to just stay in affordable housing in the rental,\u201d said Horner. \u201cWe want them to try to gain that generational wealth opportunity by buying into a unit.\u201d<\/span><\/p>\n

Deon Osborne is a Contributing Writer.<\/em><\/p>\n

Photo courtesy of Portland Community Reinvestment Initiatives.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

As one of the largest Black-led affordable housing nonprofits in the state of Oregon, Portland Community Reinvestment Initiatives (PCRI) continues to expand pathways to homeownership for Black communities systemically disenfranchised by discriminatory housing practices. Founded in 1992 after taking over properties from a discriminatory mortgage company, PCRI\u2019s holdings have grown to over 700 properties, including 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Osborne","author_link":"http:\/\/www.indepthwithdeon.substack.com"},"uagb_comment_info":0,"uagb_excerpt":"As one of the largest Black-led affordable housing nonprofits in the state of Oregon, Portland Community Reinvestment Initiatives (PCRI) continues to expand pathways to homeownership for Black communities systemically disenfranchised by discriminatory housing practices. Founded in 1992 after taking over properties from a discriminatory mortgage company, PCRI\u2019s holdings have grown to over 700 properties, including…","_links":{"self":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts\/269544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/users\/4019"}],"replies":[{"embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/comments?post=269544"}],"version-history":[{"count":0,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts\/269544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/media\/269947"}],"wp:attachment":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/media?parent=269544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/categories?post=269544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/tags?post=269544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}