Avesta Housing is proposing a five-story, 60-unit apartment building on Valley Street in Portland.

While some units would be rented at market prices, a majority would be affordable to people making significantly less than the area median income.

“It is on the larger side of what Avesta has done recently, which is exciting given the deep need for this type of housing,” development officer Catherine Elliott said.

Elliott said the apartments would be of varying sizes, from efficiencies to three-bedroom. Twenty percent — 12 apartments — would be market rate. The remaining 80 percent — 48 apartments — would be rented at prices affordable to people who make 50 to 60 percent of the area median income. The project will not be restricted by age.