What is this limited equity / Pay It Forward thing about?
Only units priced at $99,995 qualify for the Pay it Forward program. We’ve all seen what the real estate market in Portland can do. So, to keep some units affordable for the next artists, buyers of Pay it Forward units receive a $2,500 grant towards closing costs. Upon resale, these units may be sold for up to 2x CPI (Consumer Price Index) or fair-market value- whichever is less. Adjustments for improvements may be included in the resale price. CPI typically is 2.5-3% per year. Also included in the resale of the condo are any permanent improvements that you do to the condo during your occupancy.
