Preserving Rural Rental Housing Financed by the USDA
For residents who want to “age in place” in their home communities, for members of the workforce, including parents heading single-income houses and workers with disabilities—basically, for everyone who needs affordable rural rental housing, it is as important to preserve existing units as it is to build more of them. That’s why Genesis has developed a model for Maine and other states to reduce the looming loss in rural areas of thousands of federally subsidized affordable apartments.
NeighborWorks Umpqua investing $7.8 million to renovate affordable housing in Coquille
NeighborWorks Umpqua will be investing $7.8 million to renovate and modernize the Hillside Terrace Apartments in Coquille, after having secured $2.5 million in competitive funding from Oregon Housing and Community Services. These funds, from dedicated non-General Fund sources, will match $5.2 million in previously secured low-cost loans for the project from the United States Department of Agriculture Rural Development.