noah news may 2018
Catholic Charities Adds More Housing in Molalla
Like a cat, Molalla Gardens has had multiple “lives.” And NOAH has a long history with this project. Originally built in 1973, the building offered 30 units for families. In 1999, NOAH financed the acquisition and limited rehabilitation of the complex. In 2017, Catholic Charities sponsored a full rehabilitation of the project. After significant rehab and new construction, 20 of the old units were completely refreshed, while another ten were demolished to make room for 27 brand new apartments, bringing the total from 30 to 47 homes. One of the old buildings was demolished, two existing buildings were fully rehabbed, and four new buildings constructed. The project involved relocation for the residents as they had to temporarily move off-site while construction was underway. Luckily, nearby apartments could accommodate the residents. NOAH provided permanent financing for the entire project.
The property is located just blocks from the local senior center and has a set-aside of 10 ground floor units for seniors. Four of the units offer preference for families referred by Catholic Charities’ Project UNICA, which provides support services to women and children who are survivors of domestic violence. We’re very excited the project has had new life breathed into it. Download the Project Profile here.
Redmond Welcomes Homes and Medical Services for Seniors
The Central Oregon Regional Housing Authority, or Housing Works, is proud to bring Cook Crossing online, two projects located in Redmond. Brentwood Manor is a rehabilitated one-story garden style apartment complex with full project-based HUD Section 8 contracts for eight one bedroom/one bath units for seniors and people experiencing disabilities. Two of the units are fully accessible and the remaining units are adaptable. Cook Crossing is a new, two-unit condominium, with Mosaic Medical Clinic located in the commercial condo on the ground floor, and 48 apartments for seniors on the three residential floors above. NOAH provided financing for the residential condo. Cook Crossing has six project-based HUD Section 8 voucher units. The properties are located one block from each another, close to retail, transit and the local senior center. Download the Project Profile here.
New Transit Oriented Development Coming to Portland
REACH CDC has purchased land from TriMet, Portland’s regional transit authority, to build 175 units of affordable housing in outer southeast Portland. NOAH provided low-cost acquisition funding through our Oregon Housing Acquisition Fund (OHAF). This was NOAH’s fourth project using an OHAF investment from the Portland Housing Bureau, which provides funding for low cost acquisition loans.
124TH & Ash will provide 175 apartments to working adults and families emphasizing transit-oriented design. Located in East Portland’s Hazelwood neighborhood, the site is also serving as a pilot for Cost-Efficient Design and Construction with funding provided by Meyer Memorial Trust. The goal of this resource is to create more units and reduce public subsidy required to deliver affordable housing.
REACH CDC has developed ongoing service partnerships as well as a relevant marketing and outreach plan designed to engage communities of color prevalent in the neighborhood while at the same time affirmatively furthering fair housing. Through a robust array of partnerships with culturally-specific providers, REACH will provide on-site services to the tenants. Service partners include El Programa Hispano Catόlico, Asian Health & Service Center and the Worksystems Aligned Partner Network. All of these programs provide strong services navigation and workforce development support features. Each organization has well well‐established community resources to adapt the engagement, education and support processes to the culture of the resident population being served. These service elements are central to drawing in residents whose language and customs are strongly grounded in their country of origin or identified population. The project is expected to break ground in fall 2018. Download the Project Profile here.
Investment from OCF
NOAH is pleased to be the recipient of a $2 million investment from the Oregon Community Foundation through the Oregon Impact Fund. The goal of the Fund is to address job creation in under-serviced communities across Oregon, as well as affordable housing, education, access to health care and natural resources management.
NOAH will use the investment in our Oregon Housing Acquisition Loan Fund Program (OHAF). This investment will also aid NOAH in leveraging private bank capital. The OHAF provides rapid response short term financing for the acquisition of affordable multifamily housing projects, including:
- Multifamily rental housing with expiring federal rental subsidies (HUD or RD) or public subsidies approaching the end of the contract compliance period;
- Market rate projects for conversion to affordable housing;
- Land that will be developed with affordable housing; and
- Manufactured home parks.
NOAH Proud to Join Next Step Network
NOAH is proud to announce we’ve joined the Next Step Network as part of our initiative to support our borrower’s efforts to preserve and improve manufactured home communities.
“Next Step is thrilled to have NOAH join our network of organizations and advocates dedicated to expanding factory-built housing solutions,” said Stacey Epperson, president & founder of Next Step Network. “NOAH has already taken strides to preserve manufactured housing in Oregon, and we look forward to bolstering their efforts to preserve this critical source of affordable housing.”
NOAH Is Ready!
Are you ready for the National Housing Week of Action starting today May 1? NOAH is!
The National Housing Week of Action is an opportunity to come together, with our allies in other states, and share our vision for what our communities can do together to end housing instability. NOAH is a proud member of the Oregon Housing Alliance, who has partnered with the Our Homes, Our Voices campaign to take action to ensure that everyone has a safe place to call home. They’ve developed a robust action plan with simple steps everyone can take to engage our communities and elected officials around meeting the housing needs in Oregon.
Please visit the Oregon Housing Alliance website to view all of the ways YOU can make a difference!