NeighborWorks Capital funded a $3,049,000 construction loan with DevNW (formerly known as Willamette Neighborhood Housing Services) in December. This loan will assist DevNW with the construction of 18 homes in Oregon. This rural single-family for-sale land trust project consists of scattered sites, 6 in Cottage Grove and 12 in Florence. The trust (land, infrastructure, etc.) is funded with a silent loan from Oregon Housing and Community Services and the NWC loan will assist with the buildings themselves. Each home will be sold to a low-income family, at or below 80% AMI.
Our team had the opportunity to spend time with five members of NeighborWorks America serving communities in Boston and Providence. On this trip, we visited Codman Square Neighborhood Development Corporation, Nuestra Comunidad Development Corporation, Madison Park Development Corporation, ONE Neighborhood Builders, and Cambridge Neighborhood Apartment Housing Services. Each of these organizations is doing transformational work to create opportunities for people to live in affordable homes, improve their lives, and strengthen their communities.