Middle Housing Revolving Loan Fund
The Middle Housing Revolving Loan Fund was created by the Tigard City Council in 2021, using funds from the American Rescue Plan Act. The goal of the Fund is to increase the financial feasibility of middle housing in the City of Tigard, build developer capacity and knowledge, demonstrate the viability of these housing types, and further the city’s commitment to aid in the construction of affordable and sustainable housing. The Fund is managed by the Network for Oregon Affordable Housing, Craft3, and the Community Housing Fund. Click here for more information on the city’s program.
The fund will provide short-term construction loans to developers building for sale middle housing that meet the following requirements:
Acceptable Property Types
- Cottage Clusters (TCDC 18.230)
- Courtyard Units (TCDC 18.240)
- Quads (TCDC 18.270)
- Factory, prefab, or manufactured housing is acceptable.
Certain other housing types may be eligible when meeting maximum square footage criteria. Those housing types include:
- Small Form Residential (TCDC 18.290)
- Maximum square footage criteria:
- Maximum square footage per unit: 1200 square feet
- Maximum average square footage of all funded units: 1000
Minimum Affordability
A minimum of 30% of the units, rounded up to the nearest whole, must be offered for sale to qualified buyers with household income at or below 100% of area median income according to the following:
- These units are required to have a sales price equal to or less than 30% of household income for a family of four at 100% AMI for Washington County, and;
- For a period of 90 days from certificate of occupancy or final inspection approval, units must be offered through qualifying affordable homeownership nonprofits, including but not limited to:
- Proud Ground (to receive first option as priority partner of City of Tigard)
- Portland Housing Center
- Habitat for Humanity
- Other agencies must receive written approval in advance by the City of Tigard Community Development Director or designee.
Developments wherein all units will be provided to qualified low-income buyers are eligible for an interest rate reduction, as approved by accepted affordable homeownership nonprofits or the OHCS-certified homeownership center.
Click here to download a detailed summary matrix of all available loan products and terms.
For More Information
For further information, to submit an application, or to discuss alternative financing options, please contact:
.(JavaScript must be enabled to view this email address), Deputy Director and Director of Lending
Financing
NOAH offers a variety of loan products to assist in building and preserving affordable housing in Oregon. We strive to provide flexible investments and creative solutions that consider the needs of the borrower and the community. Our loan products range from permanent, to pre-development, to preservation. We finance a variety of project types with an array of loan products available. We also offer highly trained staff to answer any questions and a detailed summary matrix of all available loan products and terms.
Acquisition and Preservation
NOAH’s Acquisition and Preservation Loan Products provide affordable, flexible financing for acquiring and preserving affordable housing.
Project Types
- Multifamily rental housing with expiring federal rental subsidies (HUD or RD) or Section 42 tax credits approaching the end of the contract compliance period.
- Mixed use development with a housing component, provided that the effective gross income from commercial tenants cannot exceed 20% of the total effective gross income.
- Acquisition of market rate property, unrestricted by regulatory agreements, with the intent to transition to affordable housing.
- Acquisition of land that will have affordable housing development.
- Acquisition of manufactured home parks.
Available Loan Products
Click on each product to download a detailed summary.
- OHAF Preservation Loans
- OHAF Gap Loans
- Land Acquisition Loans
- OHAF Market Conversion Loans
- OHAF MHP Loans
Click here to download a detailed summary matrix of all available loan products and terms.
For More Information
For further information, to submit an application, or to discuss alternative financing options, please contact:
.(JavaScript must be enabled to view this email address), Deputy Director and Director of Lending
Pre-Development Loans
NOAH’s Pre-Development Loan Products provide funds for the acquisition of land and pre-development costs associated with development of affordable and moderate income-housing.
Project Types
- Improved or unimproved land to be developed for affordable housing.
- Costs and expenses associated with the development of affordable housing.
Available Loan Products
Click on each product to download a detailed summary.
Click here to download a detailed summary matrix of all available loan products and terms.
For More Information
For further information, to submit an application, or to discuss alternative financing options, please contact:
.(JavaScript must be enabled to view this email address), Deputy Director and Director of Lending
Permanent Loans
NOAH’s Permanent Loan Products provide long-term financing for affordable housing projects serving low- and moderate income households in Oregon.
Project Types
- Rehabilitation of multifamily rental housing with an affordability component.
- New construction of multifamily rental housing with an affordability component.
- Refinancing or recapitalization of an existing affordable housing project.
- Manufactured home parks serving low-income households.
- Mixed use developments with a housing component, provided that the effective gross income from commercial tenants does not exceed 20% of the total effective gross income of the project.
Available Loan Products
Click on each product to download a detailed summary.
- Permanent Loan
- Manufactured Home Park Permanent Loan Click here to download a detailed summary matrix of all available loan products and terms.
For More Information
For further information, to submit an application, or to discuss alternative financing options, please contact:
.(JavaScript must be enabled to view this email address), Deputy Director and Director of Lending
Properties Financed Index
Below, you’ll find a full map and list of all properties financed by NOAH in the State of Oregon. Click on any “house” icon on the map to learn more about the project. You can also download a Project Profile from the map or the table. The information provided reflects the data at the time of funding.
- Albany
Clayton Meadows
Periwinkle Place
River View Place Apartments
Songbird Village Apartments
Woodwind Apartments- Ashland
- Astoria
- Baker
- Beaverton
The Barcelona Apartments
CPAH Cedar Grove
The Mary Ann
Pomeroy Place- Bend
Azimuth 315 Apartments
Canal Commons One
Canal Commons Two
Conners I
Century Drive
Crest Butte
Discovery Park Lodge
Healy Heights Apartments
Lava Court
Mountain Laurel Lodge
Paulina Peak Partners LLC
Quimby Street Apartments- Boardman
- Burns
- Canby
- Canyonville
- Cave Junction
- Cornelius
- Corvallis
Alexander Seavey LLC
Colorado Lake Cooperative
Hotel Julian
Lancaster Bridge Community LLC
South Corvallis 33
Willamette Neighborhood Housing Services Land Loan- Cottage Grove
Barrel Brook
Corey Commons
Jefferson Park
Saginaw Mobile Home Park
Shoreview Meadows Homeowners Cooperative
Witherspoon Court- Dallas
- The Dalles
- Eugene
Apple Orchard
Aurora Apartments
Bascom Village Apartments Phase I
Bascom Village Apartments Phase II
Green Leaf Village Apartments
Hawthorn Apartments
The Keystone
Iris Place
Lamb Building
Laurel Gardens Apartments
Polk2.0
Mary Skinner Apartments
MD Commons
Royal Ave.
Santa Clara Plaza
Sheldon Village Phase I
Sheldon Village Phase II
Stellar Apartments
SVDP FCC Mobile Home Purchase
Turtle Creek Apartments
Walnut Park Duplexes
Willakenzie Crossing
Willakenzie Townhouses
Woodleaf Village Apartments- Florence
- Forest Grove
Forest Grove Land
Jose Arciga Apartments
The Valfre at Avenida 26- Gladstone
- Gold Hill
- Grants Pass
Barrel Brook
Family Redwood Park Cooperative
Grants Pass 3
Parkview TerraceGresham
CODA Alpha Apartments
Madrona Place
Mayfield Court Apartments
Rockwood Housing
Rockwood Landing
Village Square Apartments
Willow Tree- Gresham
- Happy Valley
- Harrisburg
- Heppner
- Hermiston
Applewood Village Apartments
Sagebrush Portfolio - Buttercreek Apartments
Cottonwood I Apartments
Cottonwood II Apartments
Viewcrest Apartments- Hillsboro
Orchards at Orenco Phase I
Orchards at Orenco Phase II
Orchards at Orenco Phase III
Villa Capri- Hood River
Dethman Manor
Hood River Crossing Apartments
Wind River Place- Independence
- Junction City
- Keizer
- Klamath Falls
- La Grand
- La Pine
- Lake Oswego
- Leaburg
- Lebanon
- Lincoln City
- Madras
Chennai Landing
Rimrock Court Cooperative
Rimrock Court Co-Op- McMinnville
Glenhaven Park LLC - McMinville
Horizon Homeowners Cooperative
Redwood Commons
Sunflower Park Apartments- Medford
Canterbury Hills
Cherry Creek Apartments
Lilac Meadow Phase II
Living On Track
Mountain Vista Apartments
Newbridge Place
Spring Street Apartments
Stevens Place Apartments
The Concord- Milton Freewater
Mason Grove
Pioneer Commons
The Greens at Montclair
Washington Park Apartments- Milwaukie
Birch Tree Cooperative
Ikoi So Apartments
Seneca Terrace Apartments
Walsh Commons- Molalla
Molalla Gardens
Rondel Court Apartments
The Greens at Ridings
Toliver Terrace Apartments- Monmouth
- Mt. Angle
- Myrtle Creek
- Newberg
- Newport
- North Bend
- North Plains
- Nyssa
- Oakridge
- Ontario
Nyssa Court
Ontario Acquisition
Parkview Village Apartments
River Bend Place
Sierra Vista Apartments
Sagebrush Portfolio - Fairview Apartments- Oregon City
- Pendleton
- Phoenix
- Portland
124th and Ash LP
REACH 73rd and Foster
82nd Avenue Apartments
SE 124th and Ash
Admiral Apartments
Alberta Alive Apartments
Albina Corner
Alder House
Allen Fremont Plaza
Ankeny Woods
Arbor Mobile Home Park
Belmont Dairy Apartments
Bronaugh Apartments
Clara Vista Townhomes
Cambrian Apartments
Harvey Rice
Clifford Apartments
Dresden Apartments
Eastgate Station
Erickson Fritz Apartments
Esperanza Court
The Estate Building
Fessenden Court
Garden Park
Garlington Place
Gateway Affordable Housing Land Loan
Gilman Court (Glisan Commons Phase II)
Gladstone Square
Glisan Commons Phase I
Going 42 - Mamook Tokatee
Greenview Terrace
Habitat Land Loan
Habitat-Living Cully Land Loan
Habitat-Taylors Ferry Land Loan
Hawthorne East
Hilltop Ranchito
Kateri Park
Leander Court
Lents Town Square
Lents Village
Los Jardines de la Paz
Lyndon Musolf Manor
Macdonald Center
Madrona Studios
Magnolia Apartments (Eliot)
Mark O. Hatfield Building
Maya Angelou
McCoy Village Apartments
Midland Commons
Miraflores Apartments
Mt. Scott Terrace
Multnomah Manor
NAYA Generations
Oak Leaf Manufactured Homes
Oak Leaf MHP
Orchards of 82nd
Otesha Place
Patton Park
Plaza de Cedro
Rose CDC - Berry Ranch
Rose Apartments
Rose Scattered Site Development
Roselyn Apartments
Rosemont Court
Rosewood Plaza Apartments
Shortstack-Revere
St. Francis
Station 162
Stephens Creek Crossing - South
Strategic Asset Acquisition
Turning Point
Upshur House
Victorian Inn
Victorian Inn & Mayfield Court
Village at Headwaters
Villas de Mariposas
Walnut Park Apartments
The Watershed
Weidler Commons
West Gresham Apartments
Woolsey 1, 2, & 3- Prairie City
- Prineville
- Rainer
- Redmond
Cook Crossing
Green Pastures Senior Park
Housing Works Townhouses
Reindeer Meadows
Ridgemont Apartments- Rogue River
- Roseburg
Brookside Court
The Grand
Newton Creek Manor
Orchard Knoll Apartments
Princeton Court Apartments- Salem
Capitol Plaza
Colonia Libertad
Cottage Street Apartments
Highland Station
Lancaster Terrace
Mill Creek Meadows
Parkway Village Apartments
Parkway West Apartments
Robert Lindsey Tower & Parkway East Apartments
SHA RAD 4%
SHA RAD 9%
SunCo LP
Yaquina-Southfair- Seaside
- Springfield
Filbert Grove Cooperative
Filbert Grove Cooperative
McKenzie Meadow Apartments
Royal Building Apartments- St. Helens
- Sutherlin
- Sweet Home
Ames Creek Court
Cascadia Village Apartments
Sunset Corners I, Carolina 100, & Carolina Court- Talent
- Tillamook
- Tigard
72nd and Baylor
The Knoll
Oleson Woods
REACH Dartmouth Phase 2- Troutdale
- Tualatin
- Veneta
- Warrenton
- Welches
- White City
- Wilsonville
- Winston
- Woodburn
Colonia Unidad & Esperanza Court
Hazelwood Estates & Edelweiss Village
Nuevo Amanecer
Nuevo Amanecer Ph I
Wood Park Terrace
Wishcamper Development Partners- Yachats