Oregon Housing and Community Services invests in 261 new and existing affordable homes

SALEM, Ore.- Oregon Housing and Community Services (OHCS) is funding the development and preservation of 261 affordable rental homes across Oregon. The state's housing finance agency is reinforcing its commitment to addressing housing affordability through strategic investment and community partnership.

"Increasing housing supply is the single most important way to make life better and more affordable for Oregonians," said OHCS Executive Director Andrea Bell. "We want Oregon to be a place where everyone can thrive. A place where people's fundamental needs are met, businesses can grow, and communities are strengthened by locally driven solutions. We cannot afford to wait or be incremental in our actions to bring about this future."

The affordable housing projects, approved by the Oregon Housing Stability Council(HSC) this month, span both urban centers and rural communities and represent an investment of more than $100 million in affordable housing.

"This is shared progress with housing partners across the state. Every month, we move towards a future where every Oregonian has a safe, stable, and affordable place to call home," said Mary Farrell, member of the HSC. "These homes represent hope, opportunity, and a more equitable Oregon."

These are the new housing projects approved for funding in November:

These projects will be funded through a combination of state and federal resources, including Low-Income Housing Tax Credits (LIHTC), Preservation funds, Permanent Supportive Housing (PSH) funds, Oregon Affordable Housing Tax Credits (OAHTC), and Local Innovation and Fast Track (LIFT) funds.

Two additional affordable housing developments that previously received gap funding were also allocated Private Activity Bonds and LIHTC, or additional LIFT funds. Find more information about each affordable housing development in the HSC meeting packet.