Williams & Russell CDC

Name

Williams & Russell CDC

Legal name

Williams & Russell Community Development Corporation

Website

https://williamsrussellcdc.org

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Williams & Russell CDC is a Black-led nonprofit leading a $120 million reparative real estate development in Portland's historic Albina neighborhood, delivering 85 affordable rental apartments, 20 homeownership townhomes, and a 26,000 SF Business Hub for families displaced by 1970s urban renewal.

Ownership category

akta.pro rank

Product category

Affordable Housing and Community Development

NAICS

Other Community Housing Services (624229)

SIC

Operators Of Apartment Buildings (6513), Services-Social Services (8300), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Public & Affordable Housing Programs (Subsidies, Vouchers, Public Housing) (BPAIANAA)

akta.pro secondary industries

Affordable Rental & Multifamily Housing Finance Programs (LIHTC/Tax Credits/Subsidized Loans) (FSALAKAF), Community Development & Neighborhood Revitalization Housing Programs (FSALAKAO), Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD), Community Centers & Neighborhood Support Services (BPAGAEAL)

Keywords

• Affordable housing development
• Community development corporation
• Reparative real estate
• Commercial space leasing
• Community consulting services

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Affordable Rental Revenue: 85 affordable one- to three-bedroom apartments at 30-60% AMI generate rental income. Units include community space, outdoor area, parking, resident services, and a cultural daycare on the ground floor. All units are reserved for Portland's Preference Policy families.
2. Townhome Sales Revenue: 20 high-quality townhomes (10 two-bedroom and 10 three-bedroom units, plus 4 accessible units) are sold to eligible buyers earning 60-120% AMI through the Preference Policy. Total Project Cost: $19.1M. Revenue is realized upon sale closing.
3. Commercial Space Leasing: The 26,000 SF Business Hub generates leasing revenue from affordable retail, office, and collaborative spaces for Black-owned businesses, community organizations, and entrepreneurs. The Hub targets businesses that strengthen the local economy and serve the community.
4. Donations and Grants: As a registered 501(c)(3) nonprofit (EIN: 86-3566788), the organization receives charitable contributions, foundation grants, and public funding to support its mission and development activities.
5. Reparative Development Consulting Services: The organization offers paid consulting services to government agencies, academic institutions, and community organizations on reparative development strategy, equitable policy design, community engagement, and organizational capacity building.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Williams & Russell CDC is a Black-led nonprofit community development corporation that develops and owns deeply affordable housing and commercial real estate in Portland's historic Albina neighborhood. It is producing 85 affordable rental apartments (30-60% AMI), 20 homeownership townhomes (60-120% AMI), a 26,000 SF Cross-Laminated Timber Business Hub for Black-owned businesses, a cultural plaza garden, and approximately 40 additional homes in the North Block project. The organization also offers paid reparative development consulting to government agencies, academic institutions, and community organizations. All housing units are reserved for families eligible under Portland's N/NE Preference Policy.

Product overview

Williams & Russell CDC is a Black-led nonprofit organization leading a $120M reparative development project in Portland's historic Albina neighborhood. The portfolio comprises three interconnected real estate products: 20 Homeownership Townhomes (Knott Street Townhomes) for families earning 60-120% AMI, 85 Affordable Rental Apartments for families earning 30-60% AMI, and a 26,000 SF Business Hub in Cross-Laminated Timber construction for Black-owned businesses. Supporting these core offerings are a Cultural Garden and Community Plaza for community gatherings, and the North Block Homeownership Project with approximately 40 additional homes. Additionally, the organization offers Reparative Development Consulting Services for government agencies, academic institutions, and community organizations. All housing units are reserved under Portland's Preference Policy for families displaced by urban renewal.

Differentiator

Problem solved

Functional benefit

Products and services

• Homeownership Townhomes (Knott Street Townhomes) 20 high-quality townhomes (10 two-bedroom and 10 three-bedroom units, with four featuring accessible ground-floor designs) offered for sale to families earning 60-120% of Area Median Income, reserved exclusively for residents eligible through Portland's Preference Policy program.
• Affordable Rental Apartments 85 affordable one- to three-bedroom rental apartments serving families earning 30-60% of Area Median Income, featuring community space, outdoor area, parking, resident services, and a cultural-specific daycare on the first floor. All units are reserved for Preference Policy families.
• Business Hub A 26,000-square-foot Cross-Laminated Timber (CLT) building offering affordable retail, office, and collaborative spaces for Black-owned businesses and community organizations, designed to restore the historic Hill Block as a vibrant business and community hub.
• North Block Homeownership Project Approximately 40 homes for sale affordable to low-income families impacted by displacement, currently in the design and environmental due diligence phase.
• Cultural Garden and Community Plaza A community gathering space spanning 5,400 square feet of permeable pavement with permeable decking, precast concrete seating walls, custom wood seating, seven fixed seating areas, a recirculating water feature with overhead canopy/solar array, a children's nature play area, community canopy swing, 15-tree canopy, and six planting stations producing 3,500 square feet of community gardening space.
• Reparative Development Consulting for Government Agencies Consulting services for city, county, and state government agencies to design and implement reparative development strategies, including equitable policy design, public engagement facilitation, community wealth-building strategies, capacity-building, and governance structures.
• Reparative Development Consulting for Academic Institutions Consulting services for universities, professional schools, and academic departments to integrate reparative development, equity-centered planning, and community-grounded practice into curriculum, research, and policy design.
• Reparative Development Consulting for Community Organizations Partnership services for community-based organizations, nonprofits, advocacy groups, and neighborhood associations to strengthen capacity for reparative, equitable, and community-driven development efforts.

Quantifiable outcome

• 85 affordable apartments at 30-60% AMI reserved for Preference Policy families
• +5 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

14 partnerships are on record, tiered core, minor and flagship.

• AdrecoreStrategic or Co-development PartnerBlack-led development partner serving as Project Developer Lead for the Business Hub, Homeownership Townhomes, and North Block projects. Key personnel include Anjelica Rivas (Business Hub), Madeline Kovacs (Homeownership), and Joe Swank (North Block).
• Colas ConstructioncoreStrategic or Co-development PartnerBlack-led general contractor actively constructing the 20 townhomes and 85 apartments. Led the construction team at the historic groundbreaking in February 2025. A core member of the Black-led development team.
• LEVER ArchitecturecoreStrategic or Co-development PartnerArchitect of record for the Williams & Russell redevelopment project. Led the groundbreaking ceremony coverage and design of the CLT Business Hub and townhome structures.
• Portland Housing CentercoreImplementation/ SI/ Consulting PartnerCommunity Development Financial Institution (CDFI) and homeownership partner providing support to future homeowners of the project. Executive Director Dana Fuller Shephard serves on the Williams & Russell Board. Provides Preference Policy counseling and mortgage brokerage services.
• PCRI (Portland Community Reinvestment Initiatives)coreStrategic or Co-development PartnerProject Developer Lead for the 85-unit Affordable Apartments. Jeremy Jostand serves as the project lead. PCRI is a nonprofit focused on affordable housing development in Portland.
• City of SeattleminorImplementation/ SI/ Consulting PartnerGovernment consulting client receiving reparative development advisory services from Williams & Russell CDC as part of the organization's government consulting practice.
• City of Raleigh (North Carolina)minorImplementation/ SI/ Consulting PartnerGovernment consulting client receiving Williams & Russell CDC's reparative development advisory services, expanding the organization's geographic reach.
• City of Asheville (North Carolina)minorImplementation/ SI/ Consulting PartnerGovernment consulting client receiving reparative development advisory services from Williams & Russell CDC. The city is working on reparative initiatives for its own historically Black communities displaced by urban renewal.
• Harvard University Graduate School of DesignflagshipImplementation/ SI/ Consulting PartnerAcademic partner collaborating on reparative development curriculum integration and research. Williams & Russell leadership presented at the Black in Design Conference 2025. A flagship academic partnership demonstrating the project's national model status.
• Toronto Metropolitan UniversityminorImplementation/ SI/ Consulting PartnerAcademic institution partnering with Williams & Russell CDC for reparative development consulting, curriculum integration, and research in the academic consulting practice.
• Ontario College of Art & Design University (OCAD)minorImplementation/ SI/ Consulting PartnerAcademic institution collaborating with Williams & Russell CDC on reparative development frameworks and design education.
• Urban Land Institute TorontominorImplementation/ SI/ Consulting PartnerListed as a consulting client receiving reparative development advisory services from Williams & Russell CDC, participating in the organization's community consulting practice.
• Albina Vision TrustcoreStrategic or Co-development PartnerJT Flowers, Director of Government Affairs & Communications at Albina Vision Trust, serves as Board Chair of Williams & Russell CDC. The organizations share a mission of restoring the Albina neighborhood and are deeply aligned.
• Hood Design StudiominorStrategic or Co-development PartnerLead Landscape Architect for the Williams & Russell project, responsible for the design of outdoor spaces, the Cultural Plaza Garden, and ecological infrastructure.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Enterprise Community Partners: National nonprofit that develops and finances affordable housing and community development projects, often partnering with local CDCs. Comparable in affordable housing development and CDFI-style financing activity, though Enterprise is dramatically larger and operates across the US.
• Habitat for Humanity International: National nonprofit developer of affordable homeownership housing for low-income families. Comparable in mission (affordable homeownership for underserved populations) and product type (townhome-style units for first-time buyers), but at vastly greater scale and without a reparative-restoration framework.
• Mercy Housing: One of the largest US nonprofit affordable housing developers, operating multifamily rental and mixed-use developments serving low-income families. Comparable business model (nonprofit developer + property operator), though Mercy operates nationally and does not specialize in reparative or displacement-restoration development.
• Local Initiatives Support Corporation (LISC): National nonprofit CDFI that finances affordable housing and community development led by local CDCs. Comparable in supporting community-based affordable housing development and in financing structures, but LISC operates as a capital intermediary rather than as a direct developer like Williams & Russell CDC.
• BRIDGE Housing: West Coast-focused nonprofit affordable housing developer producing mixed-income rental and ownership housing. Comparable product (mixed rental/homeownership communities for low- and moderate-income households) and nonprofit operator model, though BRIDGE's geographic and product scope is much broader.

Emerging players

• The Resurrection Project: Chicago-based nonprofit driving community development, affordable housing, and immigrant integration. Comparable as an emerging community-led nonprofit developer advancing equitable development and cultural placekeeping, though geographically focused on Chicago rather than Portland.

Direct peers

• Habitat for Humanity Portland Region: Regional Habitat affiliate serving the Portland metro area, building affordable townhome and single-family homeownership product for low-income families. Direct overlap in the Portland affordable homeownership market and reliance on similar municipal funding and volunteer/contractor networks.
• Portland Community Reinvestment Initiatives (PCRI): Portland-based affordable housing nonprofit that is Williams & Russell CDC's project developer lead for the 85-unit rental component. PCRI shares the same geographic market, the same LIHTC-funded affordable housing development model, and overlapping Portland Housing Bureau relationships.
• Albina Vision Trust: Portland-based nonprofit driving the restoration of the Albina neighborhood, sharing board leadership with Williams & Russell CDC (JT Flowers serves as Board Chair). Both organizations target the same historic Albina displacement context, and they coordinate on reparative land use and policy in North/Northeast Portland.

Regional players

• Self-Help Federal Credit Union / Self-Help Ventures Fund: North Carolina-headquartered CDFI that develops and finances affordable housing and community facilities in underserved markets, including reparative-style community economic development. Comparable as a CDFI-backed developer of affordable housing with a mission-driven focus, though primarily East Coast/US South in footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/williams-russell-cdc

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Williams & Russell CDC