SALEM, Ore. — Oregon Housing and Community Services is funding the creation, preservation, and rehabilitation of more than 400 affordable homes across the state. These homes will help fill the need for housing for Oregonians with low incomes, including seniors, youth, and Black, Indigenous, and People of Color (BIPOC) communities.
“We know there is more to do, but these are the types of community driven housing gains that are possible when we work together,” said OHCS Executive Director Andrea Bell. “Under Governor Kotek’s leadership, we remain relentless in getting things done that will make life better for the communities we serve.”
The Housing Stability Council approved $72.8 million to fund 421 homes through the agency’s Oregon Centralized Application (ORCA) process. Part of this funding will be used to rehabilitate the Rosemont Court in Portland, which will serve seniors. Another housing development funded is Blossom Gardens in Salem, which is under construction, will focus on serving refugee families. The funding will also preserve two manufactured home parks for homeowners who live at the Rimrock Court Cooperative in Madras and Surfside Mobile Village in Newport.
The Council approved the following housing development projects for funding:
- Blossom Garden Apartments, Salem, 90 homes
- Cesar Apartments, Portland, 47 homes
- Columbia View Apartments, Cascade Locks, 12 homes
- Rimrock Court Cooperative, Madras, 38 homes
- Rosemont Court, Portland, 100 homes
- Sierra West Apartments, Hillsboro, 56 homes
- Surfside Mobile Village, Newport, 33 homes
- Willow Park Apartments, Forest Grove, 45 homes
The Housing Stability Council also granted the Homeownership Division approval to update two programs to help spur development and purchase of homes for Oregonians with low incomes.
The Local Innovation and Fast Track (LIFT) Homeownership changes include:
- A shift from determining loan amounts based on appraised land value to per-home subsidies.
- A shorter application for small projects.
- Soft set-asides to spur development by small, culturally specific, and emerging developers, and projects in underserved counties.
The Oregon Affordable Housing Tax Credit (OAHTC) Homeownership was expanded to support limited equity cooperatives, an innovative homeownership model with growing interest in Oregon. By offering tax credits to the developer’s permanent lender, OAHTC Homeownership reduces financing costs, and the savings are passed on to residents to ensure housing affordability for those earning 80% or less of the area median income.
About Oregon Housing and Community Services (OHCS)
OHCS is Oregon’s housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians of low and moderate income. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs.