Closed Loans
The following PDFs contain full descriptions of properties for which loans have been closed.
Hawthorn Apartments
Location: Eugene, OR
Thirty-five homes for families located in three buildings originally constructed in 1982.
LaGrande Retirement Center
Location: LaGrande, OR
Forty-six homes for seniors and people with disabilities located in a three-story, elevator served building.
Crestview Court Apartments
Location: Beaverton, OR
Forty-eight homes for families located in three separate three-story walk-up buildings.
Walnut Park Apartments
Location: Portland, OR
Three story elevator served building. On-site laundry room, leasing office, lobby area and green space with gazebo.
Cottonwood I Apartments
Location: Hermiston, OR
Seven two-story buildings originally constructed in 1978 and containing 22 homes for families.
Cottonwood II Apartments
Location: Hermiston, OR
Three-story building originally constructed in 1979 containing 24 homes for seniors.
Quimby Apartments
Location: Bend, OR
Three story, elevator served seniorbuilding with shared lounges and laundry rooms on each floor. The 53-home property also includes a detached single-family house.
Roselyn Apartments
Location: Portland, OR
Three story, elevator served building built in 1919 and extensively renovated in 1979.
Spring Street Apartments
Location: Medford, OR
Three story, elevator served property built in 1977. Secured, controlled entry, small tenant lounge with a kitchen area and one manager’s unit.
Upshur Apartments
Location: Portland, OR
Five buildings of two-story townhouses built in 1981.
Seneca Terrace
Location: Milwaukie, OR
Fifteen single-story, garden-style buildings containing 32 homes for families, with a new laundry room and large playground onsite. Originally built in 1982.
Suislaw Dunes
Location: Florence, OR
Forty-five units in several two-story, garden-style buildings. This complex includes homes for families and seniors on the Oregon Coast.
Julian Hotel
Location: Corvallis, OR
This four story building in the heart of downtown Corvallis includes 35 affordable homes. It includes commercial space, studio apartments, and one-bedroom apartments. Originally built in 1892.
Hollyfield Village
Location: Lake Oswego, OR
This building in Lake Oswego is one of only two affordable housing options in the City. It includes 30 affordable homes, including 28 one-bedroom units and 2 two-bedroom units. It was originally built in 1982 and primarily serves seniors.
Benessere Village
Location: Hillsboro, OR
This project in downtown Hillsboro was purchased using NOAH's Highly Accessible Site Land Loan. It will soon be 74 units of senior housing, and is located within two and one-half blocks of a MAX light rail and bus station. It is close to employment, shopping, and services.
Bronaugh Apartments
Location: Portland, OR
This four story building in the heart of downtown Portland includes 51 affordable homes. Originally built in 1905 and renovated in 1982, the building includes 11 studio units and 40 one-bedroom units. It is now home to low income seniors.
Hawthorne East
Location: Portland, OR
This seven story building located in close-in South East Portland includes 71 one-bedroom affordable homes. Amenities include a main floor foyer, lounge, leasing office, laundry and fitness rooms. It provides homes to low income seniors and people with disabilities, and was originally built in 1982.
Greenview Terrace
Location: Portland, OR
This building was formerly 31 units of market rate apartments that is now converted to affordable housing. The building is now home to individuals and small families with low incomes.
Housing Works Townhomes
Location: Redmond, OR
The OHAF Market to Affordable Loan was used to acquire 19 two and three bedroom townhomes in Redmond Oregon. The units were built between 2007 and 2010 as part of a larger development, but due to the downturn, the developer was unable to sell them. They are now home to families with low incomes.
Habitat for Humanity, Living Cully I
Location: Portland, Oregon
The OHAF Loan was used to provide capital to Habitat for Humanity to acquire a site located in the Cully neighborhood
for future development of 15 new affordable homes. Participants
must earn between 35% and 60% of the Area Median Income and contribute 500 hours of sweat equity in the construction of their
home or other Habitat homes.
Habitat for Humanity, Living Cully II
Location: Portland, Oregon
The OHAF Loan was used to provide capital to Habitat for Humanity to acquire a second site located in the Cully neighborhood
for future development of between 10 and 15 new affordable homes. Participants
must earn between 35% and 60% of the Area Median Income and contribute 500 hours of sweat equity in the construction of their
home or other Habitat homes.
Rosewood Place
Location: Gresham, OR
Market to affordable conversion. The OHAF Loan was used to acquire a 26 unit market rate apartment building in Gresham, Oregon. The housing will now be supportive housing for families earning between 30% and 50% of the area median income. The property was purchased by Human Solutions.
REACH Orenco II
Location: Hillsboro, Oregon
REACH secured site control of a site abutting the MAX light rail station at Orenco Station in Hillsboro. The land will be used to build a three phase project over five years; totaling approximately 150 units of workforce housing. Phase I, 57 units, was completed in 2015. Phases II and III will include 57 and 36 units.
Allen Fremont Plaza
Location: Portland, Oregon
Low Income Housing Tax Credits – Year 15. This project located in a gentrifying neighborhood of NE Portland was purchased by REACH Community Development, Inc. to preserve the property and avoid displacing the low income residents. 64 total units were preserved.
Ridings Terrace I & II
Location: Molalla, Oregon
HUD Project-Based Section 8. This OHAF loan Preserves 34 affordable homes in adjacent properties in Molalla. 2 and 3‐bedroom units all have project based Section 8 subsidies. The projects include garden flat and townhouse style apartments and were constructed in 1978 and 1981. Once long term financing is obtained, Borrower will request early termination of existing contracts, consolidation of the two contracts, and a new twenty‐year term.
Gateway Affordable Land Loan
Location: Portland, Oregon
Gateway Affordable LLC acquired three parcels of residential land in the Gateway neighborhood on which they plan to build a four‐story apartment complex with up to 100 affordable housing units. The proposed unit mix will include studio, one‐ and two‐bedroom units with the majority of units being one‐bedroom.
Habitat for Humanity, Capitol Hill Land Loan
Location: Portland, Oregon
Habitat for Humanity acquired the site of the Capitol Hill United Methodist Church in southwest Portland for future development of 12 new affordable homes. The homes will be sold to Habitat for Humanity participants earning 35% and 60% of AMI. Participants must contribute 500 hours of sweat equity in the construction of their home or other Habitat homes.
Saginaw Mobile Home Park
Location: Cottage Grove,
Saginaw Mobile Home Park is a manufactured home community situated on approximately 14.59 acres, with 41 manufactured home spaces, including 16 manufactured home spaces and 25 RV spaces, a 702 square foot laundry/restroom, a 324 square foot office and a 2,400 square foot shop/warehouse. St Vincent dePaul of Lane County plans to improve the park and update the infrastructure.
Two Rivers Homeowners Cooperative
Location: Gladstone, Oregon
A manufactured home community situated on approximately 12 acres, including 142 pads of which 138 are used for manufactured home spaces and recreational vehicles and 4 pads are used for additional parking and green houses. The borrower is a resident co‐op which is the owner of the property and lessor of all the home spaces.
Cambrian Apartments
Location: Portland, Oregon
The Cambrian Apartments is a four story, 34 unit, vintage apartment building located in downtown Portland. The building is considered market rate but is currently used to house students with unit rents below market. The building consists of studio and 1‐bedroom units. Innovative Housing Inc. purchased the property and will operate it as affordable housing with all units rented at 60% AMI levels.
SE 124th and SE Ash Street Land Loan
Location: Portland, Oregon
REACH purchased a parcel in the Hazelwood neighborhood of East Portland from Tri‐Met and plans to develop 151 units of affordable housing in one four story building on a site close to transit. The proposed project revitalizes an underutilized piece of land in a diverse neighborhood undergoing rapid change and price escalation.
Windriver Place
Location: Hood River, Oregon
Wind River Place Apartments consist of four, two story, 8‐unit residential buildings situated around a single‐story clubhouse located in Hood River, Oregon. The apartments consist of a mix of 2‐bedroom, 3‐bedroom and 4‐bedroom flats. The acquisition financing allows the sponsor to buy out the investor member and seek funding sources for rehabilitation and permanent financing.