The demand for affordable housing continues to grow around the
state. NeighborWorks Umpqua builds and manages affordable housing
to increase and preserve the supply of multiple types of affordable
housing for low-income individuals and families in rural Southern
NeighborWorks Umpqua is a rural-focused nonprofit housing and
community development organization that serves individuals, families,
and communities in Southern Oregon through housing development,
property management, homeownership assistance, financial education,
and community convening. Founded in 1991, NeighborWorks Umpqua
serves Coos, Curry, Douglas, Jackson, and Josephine counties. Eagle
Landing (pictured above) is a collaborative project between NeighborWorks
Umpqua and the US Department of Veterans Affairs that provides 53
units of housing for homeless veterans and their families.
Oregon Community Foundation (OCF) provided loan capital to
NeighborWorks Umpqua to increase their working capital that is
needed to build and preserve housing quickly and effectively in the
broad area they serve. OCF’s loan supports NeighborWorks Umpqua’s
strategic efforts to actively increase their housing development work to
meet the ever-growing demand they see in the communities they serve.
INVESTMENT DETAILS: FINANCIAL RETURN AND IMPACT
OCF provided a $1.5 million loan to NeighborWorks Umpqua with a
three and a half percent interest rate and a seven-year term. OCF’s
investment is expected to support NeighborWorks Umpqua’s creation
or preservation of 500 units of affordable housing over five years.