The state just put money behind more than 500 affordable homes across Oregon, and a good share of them will be built from the ground up.
Oregon Housing and Community Services announced on Oct. 14 that the Oregon Housing Stability Council approved funding to build or preserve 480 affordable rental homes and 36 homes for purchase in Newport, Grants Pass, Eugene, Lincoln City, Bend, Portland and Hillsboro. According to the agency's announcement, the council also approved the last available funding for the Older Adult Housing Program, created by House Bill 3589 in 2025 to expand affordable, accessible rentals for older Oregonians.
"We are grateful to local leaders who are working to ensure Oregon is a state of opportunity for everyday Oregonians, where people can afford to live and raise families," said OHCS Executive Director Andrea Bell.
The rental projects
The details are in the council's Oct. 2 meeting packet, and they paint a pretty clear picture of the work ahead.
In Portland, the biggest piece is the Flatworks Building, an eight-story, 143-unit building for seniors on the Central Eastside from Northwest Real Estate Capital Corp. The packet lists total costs of about $77.7 million, with about $49.9 million in construction, financed in part with up to $24 million in conduit bonds, 4% low-income housing tax credits and a $26 million state LIFT loan. Prevailing wage rates will apply. Portland's other approval is Monarca, a 57-unit family building from Hacienda CDC, with total costs of about $56.2 million.
In Hillsboro, Elevate Hillsboro Phase I would put 100 apartments for people 55 and older in one four-story building in the Orenco Station neighborhood. The packet lists total costs of about $38.8 million, with about $25.2 million in hard costs, and up to $10.7 million in Older Adult Housing Program money for CDP Oregon. Closing is anticipated in June 2027.
In Newport, Northwest Coastal Housing's Gladys Land would be a three-story, wood-framed building with 32 apartments for older adults, an elevator and features like no-step showers. Up to $12.8 million in Older Adult Housing Program funds was recommended, against total costs of about $15.8 million. Closing is anticipated in August 2027.
In Eugene, Laurel Hill Center's River Road Housing would be 45 one-bedroom apartments in four three-story, wood-framed walk-up buildings around a central garden, with a shared commons building. Total costs are about $23.2 million, backed by $3 million in LIFT funds and $2 million in 9% tax credits.
In Grants Pass, the money goes to fixing up what's already there. Jasmine Park (43 units) and Oak View (60 units) are adjacent affordable communities for seniors and people with disabilities, and both have major building systems past their useful life, according to the packet. The rehab, with about $8.5 million in hard costs, would address deferred repairs, energy efficiency, safety and accessibility.
The homeownership projects
The council approved $7.21 million in LIFT homeownership funds for 36 for-sale homes. Habitat for Humanity of Lincoln County will build nine homes in Lincoln City with Adair Homes, with priority for Samaritan Health employees and survivors of the 2020 Echo Mountain Fire. In Grants Pass, the Riviera Mobile Park Cooperative, a 55-and-older resident-owned community, will fill two long-empty spaces with new manufactured homes. And Bend-Redmond Habitat for Humanity received about $5.1 million for 25 LIFT-funded homes on former school district land in Bend.
All three homeownership projects use shared-equity models, like a community land trust, to keep the homes affordable for future buyers.
The rental projects in Hillsboro, Newport, Eugene and Grants Pass are at the first step of the state's three-step funding process, so the packet warns the details could change as they move toward closing.
Why it matters for Contractors
This is a big batch of work spread across the state, from an eight-story building in Portland to wood-frame walk-ups in Eugene and senior buildings on the coast. Several projects list closing dates in mid-2027, which is when construction contracts usually follow, so now is the time to get to know these developers. The Grants Pass rehab is a good fit for contractors who handle roofs, windows, mechanical upgrades and accessibility work. State-funded jobs like these come with paperwork. Prevailing wages apply on Flatworks, and the state sets goals for minority-, women- and emerging small business contractors. Make sure your certifications are current before bids go out.