OHCS Awards More than $40 million to Build and Preserve over 400 Affordable Homes

Posted on April 8, 2024

Voyager’s Village in Salem will receive $2.6 million for 41 affordable homes. 

Colonia del Valle Prospero in Albany will receive $5 million for 54 affordable homes. 

SALEM, Ore. — Oregon Housing and Community Services (OHCS) announces funding awards of more than $40 million in grants and tax credits to build and preserve 417 homes. The resources come from the federal 9% Low-Income Housing Tax Credits (LIHTC), HOME, General Housing Account Program (GHAP), and the Oregon Affordable Housing Tax Credits (OAHTC). These resources are used along with local, state, and private investments to make possible the development of affordable housing in communities across Oregon.

“This progress is about what really matters—putting resources towards investments that make life better for more Oregonians,” said OHCS Director Andrea Bell. “Over 400 families and individuals will have a safe and stable place to call home because of these investments and the leadership of our local partners who made this possible. This progress can invigorate neighborhoods, communities, and our economies. These investments in housing today will serve Oregonians for generations to come especially in our rural and Tribal communities.”

These investments also contribute to the five-year Statewide Housing Plan (July 2019-July 2024) goal of increasing the pipeline of affordable rental housing. OHCS surpassed the goal of adding 25,000 homes to the pipeline and has met this goal at around 107% of the target as of the end of 2023. The agency will release the outcomes of the Statewide Housing Plan this summer.

The latest investments for the creation affordable rental housing in Oregon were approved last week by the Oregon Housing Stability Council (HSC). Below is a list of the developments and further details can be found in the HSC meeting materials.

Development Location

 

Homes (units) Total Funding

 

Allen Creek Crossing Grants Pass 68

 

$4.5 million
ALSO Apartments Gresham 39

 

$4.8 million
Burlwood Apartments Portland 35 $947,442

 

Colonia del Valle Próspero Albany 54

 

$5 million
Klamath LIHTC #1 Chiloquin 30

 

$4.6 million
Majestic Garden Apartments Redmond, Veneta, Harrisburg, Junction City (Scattered Sites) 66 $5.7 million
Nine Peaks Bend 45 $10 million
Voyager’s Village Salem 41

 

$2.6 million
Wickiup Station Apartments La Pine 39 $4.1 million

comunicado de prensa en español

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.

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