Last week, we reported on plans by the vegan, worker-owned Red and Black Cafe to buy its current space. This morning, Red and Black co-owner John Langley said the cafe had successfully amassed the $50,000 down payment necessary to secure the deal.

Though the cafe in Southeast Portland may not cut the check until this Wednesday, Langley said the building purchase is on for an owner-financed deal. The deal calls for the Red and Black to pay $500,000 for the two-story building at 400 SE 12th Ave. The cafe will continue to occupy the first floor. The upstairs space, currently occupied by offices, will be converted into low-income group housing for a half-dozen residents.

Future resident Emily Kamm said occupants will begin moving in this week.