Prices for units at Milepost 5 range start at $99,950. and include a storage unit.

You can download our complete pricing sheet here.

Units priced over $99,950 are not subject to any resale formulas and may be re-sold at fair market value. Units priced under $99,950 qualify for the Pay It Forward program. We hope that Milepost 5 will always offer a place for creatives to own an affordable space for as long as they'd like to, and experience the benefits of ownership: no rising rents, no forced relocations, tax benefits, freedom to remodel, equity, etc. We also want to pass that opportunity on to future artists.

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.

Please note that prices are subject to change. Also, square footages are approximate and based upon "architectural" measurements taken from architectural plans. Final square footages may differ, and the square footages as shown on the condominium declaration and plat will be based upon condominium measurement standards, which are not the same as "architectural" measurements.

Grants

There are three grants available towards closing costs each are $2,500 in value and you can receive a maximum of $5,000 in assistance. These grants do not require repayment.

1. If you purchase a Pay It Forward condo with a value under $99,950.
2. If you annually earn less than 100% Median Family Income (household of one is $46,850)
3. If you are a creative.  Creative is defined in the broadest sense possible and includes hobbyists.

FAQ: What is this limited equity / Pay It Forward thing about?

Only units priced under $99,950. 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.

We hope that Milepost 5 will always offer a place for creatives to own an affordable space for as long as they'd like to, and experience the benefits of ownership: no rising rents, no forced relocations, tax benefits, freedom to remodel, equity, etc. We also want to pass that opportunity on to future creatives.