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In September 2012 IHI celebrated the grand opening of the Modern Rich Apartments, bringing 34 modern studio units to Portland's Old Town neighborhood. Originally built in 1905 as a railroad hotel, this great old building has housed many people over the decades and is now home to 34 people who work, go to school, and enjoy affordable living in Portland's downtown core. The Modern Rich's efficient urban studios blend an edgy modern aesthetic with cool historic elements and provide much-needed affordable workforce housing in Old Town. We punched the second floor light well through to the ground floor and created an interior courtyard that provides outdoor space for residents, access to new ground floor residential units, and outside dining for a new restaurant in one of seven revitalized commercial storefronts. IHI completed this project without any public funding, which gives us maximum flexibility in design and use, and also preserves scarce affordable housing resources.