Preservation Is:
A series highlighting the many ways that preservation is relevant here and now.
E: Equity, Diversity, and Inclusion
E: Environmental Action
11.27.25 H: Housing Access
R: Representative Development
From adaptive reuse projects helping to revitalize communities across the country, we know there is great value in preserving, reusing, and reimagining existing buildings for a wide variety of uses. Read more about how Preservation Starts HERE (Housing Access; Equity, Diversity, and Inclusion; Representative Development; Environmental Action).
As housing continues to be an urgent need, we are happy to share what we learned about a project that will adapt a series of existing buildings into affordable senior housing in the heart of Portland’s Arts District. Kevin Bunker, founder and principal of Developers Collaborative (one of our 2023 Preservation Award winners!) gave GPL staff a tour in October of his current project on Preble Street. This series of smaller structures predated the 1924 construction of the Chapman Building and Arcade, now the Time and Temperature Building at 477 Congress Street, and were annexed to it. They housed commercial spaces, including a retail arcade that was Portland’s first interior “mall”, and a theater.
As Kevin escorted us through the interior labyrinth of deteriorated offices and retail spaces, abandoned and frozen in time, he outlined his vision for beautiful, safe senior housing units. This is not an easy project, but Kevin feels passionate about housing and about community, and finding creative solutions to make a difference one project at a time.
Because the annexes contribute to the Congress Street Historic District, certified by the National Park Service, the project is eligible for historic rehabilitation tax credits. Like many other beneficial projects, including the Fidelity Trust building actively being adapted to a new hotel across the street, it would not be possible without these tax credits. Often, developers rely on a variety of funding mechanisms to make a project viable. Historic tax credits are a critical tool and require continued advocacy to fund and expand at the state and federal levels. It is fantastic to see this level of thoughtful investment, vision, and problem-solving and we are grateful to Kevin and his team for the candid conversation and effort to make this project a reality. Revitalization at any scale benefits our community and Kevin’s efforts prove that incorporating housing into existing and historic buildings is not only possible but makes our neighborhoods more vibrant and interesting places to live, work, and visit.
