Northwest Housing Alternatives has broken ground on Alma Gardens, 45 units of affordable housing for seniors at Orenco Station, Hillsboro:
- Alma Gardens is specifically designed for seniors and built in a setting that includes ample sitting areas, gardens and open spaces. Alma Gardens will be located in the Orenco Station neighborhood and will provide easy access to the MAX light rail, markets, and parks.
- 45 senior households will call Alma Gardens home when construction finishes in winter 2013.
- According to the National Association of Home Builders, every 100 units of affordable housing developed creates 151 jobs during construction and 38 permanent jobs supported by each building’s residents. The construction of Alma Gardens will create approximately 70 temporary construction jobs. Alma Gardens’ future residents’ local spending will support over 17 permanent jobs in the community.
“Northwest Housing Alternatives is thrilled to be building Alma Gardens in Hillsboro,” said Martha McLennan,NHA’s Executive Director. “Orenco Station is a dynamic community and we are excited that we are able to provide affordable homes to seniors in this growing neighborhood.”
“We’re very excited to have Northwest Housing Alternatives, with its history of success, as a housing partner in Washington County,” said Ramsay Weit, Executive Director of the Community Housing Fund, which provided predevelopment financing. “We look forward to teaming up with them to create more healthy communities and housing opportunities for working families and folks living on fixed incomes in the County.”
Alma Gardens will cost $9.3 million to develop. Funding comes from the US Department of Housing and Urban Development & Washington County Office of Community Development ($700,000), Oregon Housing and Community Services ($750,000) annual allocation of Low Income Housing Tax Credits (LIHTC) and $925,000 in Oregon Affordable Housing Tax Credit (OAHTC). Additional funding provided by U.S. Bank Community Development Corporation ($7,649,235) in LIHTC equity, US Bank National Association – construction financing and a $925,000 permanent loan, Washington County Department of Housing Services – Eight (8) units of project based rental subsidy, and predevelopment financing from Community Housing Fund.
Northwest Housing Alternatives is the largest nonprofit developer of affordable housing in Oregon. Over 2,600 Oregonians fall asleep every night in NHA’s 1,688 affordable apartments spread throughout 17 counties in the state.