NeighborWorks Capital recently closed a $1,224,000 and acquisition with REACH CDC to purchase a 4.4 acre development site in Cornelius, OR. With their co-developer Bienestar Oregon, REACH will build 113 new affordable apartments for low-income families using LIHTC equity, tax-exempt bonds, and a $12.8 million loan from Washington County. When construction is complete REACH will turn over ownership to Bienestar Oregon, a leading nonprofit developer, especially supporting Latinx and immigrants in Washington County and the suburbs west of Portland.
NeighborWorks Capital and National Equity Fund Announce LIHTC Equity Fund to Empower Partner Organizations
The innovative fund, exclusive to members of the NeighborWorks America network, will provide LIHTC equity with equitable, consistent terms, helping create and preserve more affordable housing across the country.