PORTLAND, Ore. (KOIN) — A total of $103.5 million will go toward 10 affordable housing developments across Oregon to help with the statewide housing crisis.
On Tuesday, Oregon Housing and Community Services announced that the Oregon Housing Stability Council approved funding for the Local Innovation Fast Track program. OHCS can now construct 646 homes for low-income residents with the new funding.
“Lack of affordable housing is a top concern for many people across the state and we must continue to pursue measurable progress,” OHCS Director Andrea Bell said in a statement. “These investments will help improve the futures and quality of life for thousands of Oregonians in rural and urban areas of the state.”
Bell also thanked the Oregon legislature and current Gov. Tina Kotek for investing in LIFT. However, the agency says the need for funding went beyond the funding available, with 23 applicants requesting $221.6 million in total.
Scoring committees narrowed down to just 10 housing developments — prioritizing those in areas impacted by the 2020 Labor Day Wildfires or those with a “Qualified Culturally Specific Organization on the development team.”
Here’s a breakdown of how much money each housing development received.
- $17.9 million to Salem Apartments in Salem
- $15.3 million to Phoenix Corner in Phoenix
- $15.1 million to Rand Road Affordable Housing in Hood River
- $13.5 million to Pacific Flats in Phoenix
- $8.3 million to College View Apartments in Bend
- $11.9 million to Estacada Apartments Phase II in Estacada
- $11.3 million to Ollie Court in Eugene
- $2.3 million to Depoe Bay Townhomes in Depoe Bay
- $5.6 million to Rivergreen Apartments Phase II in Corvallis
- $2.3 million to Unicorn Bed in Portland
OHCS noted that half of the developments will be located in rural communities, while the other will be in urban areas. The scoring committee also looked at other factors such as financial viability, innovation and development capacity.
