Old Town is ready for renewed, focused attention. The area is rich with history, culture and a built environment that is conducive to smart growth development.
Old Town has undergone a revival in recent years and benefited from private investment. Four catalyst projects in Old Town either opened or are currently under construction, three of which utilized city investment. The Barcelona, a four-story housing development with 47 units, held its grand opening in December 2015. The completion of The Barcelona is a noteworthy event as this is the first major affordable housing development project to be constructed in Old Town in decades.
Franklin and Tucker Apartments, a 70 unit complex opened its doors in the summer of 2015. Meanwhile, two other projects, The Rise Old Town and La Scala, broke ground in 2015. Both projects are mixed-use and will create an additional 131 housing units as well as new commercial space in Old Town.
BURA's Five Year Strategy–Old Town
Beaverton's Old Town continues to be a high priority for urban renewal investments. This area has a wealth of community assets and has benefited from significant interest from developers in recent years. BURA will be leveraging private investment through projects that enhance the public realm. This includes a focus on the city's Storefront and Tenant Improvement programs, as well as the Pre-development Assistance Grant program.
The BURA allocation of funds for the next five years is $3,806,310. Individual fiscal years are allocated below: