Housing Works Partners Celebrate Latest Affordable Housing Project

Bend companies come together for a “dream come true” event to celebrate partnership and new homeowner

04 February 2011 – Bend, Oregon – Several local companies – and a brand-new Bend homeowner – came together yesterday to celebrate the purchase of a NorthWest Crossing home through a unique collaborative housing program. The construction of the home was made possible through a partnership of several local companies.

• West Bend Property Company, the developer of NorthWest Crossing, donated the homesite.

• SolAire Homebuilders constructed the home, receiving some donated time and materials from their team of subcontractors and suppliers.

• The City of Bend provided a zero percent “Course of Construction” Loan.

• Housing Works made the home available through its HomeQuest Ground Lease program.

• Helping Hand Housing provided support and reduced-rent housing to the homebuyer while she got her feet beneath her.

“It is so wonderful to be part of a community of people who care, really care, and come together with a vision,” said Cyndy Cook, executive director of Housing Works. “Having the opportunity to offer a new home in a neighborhood like NorthWest Crossing was made possible through this group of businesses and organizations. We are so pleased that so many banded together to make this happen for a deserving family.”

The HomeQuest Ground Lease Program was developed about two years ago and assists families in home ownership by separating the ownership of the home from the ownership of the land, thus making the home more affordable for workforce families. The land under the home is placed in the HomeQuest program and is leased to the homeowner. The owner is able to amass shared equity in the home itself, receiving a portion of the home’s appreciation (determined by current market value), and can then eventually buy a home outside the program. The shared appreciation keeps the home at an affordable price for the next selected buyer.

About NorthWest Crossing

NorthWest Crossing is a mixed-use community on Bend’s west side which has won several national awards for its green building practices, as well as being a Finalist in the 2009 Urban Land Institute’s International Awards of Execellence program, receiving the PCBC’s 2008 Gold Nugget Award of Merit for Master-Planned Community of the Year and Cottage Living magazine’s 2008 Top Cottage Neighborhoods. West Bend Property Company LLC, a partnership of Brooks Resources Corporation and Tennant Family Limited Partnership, is developing the community. Both companies, based in Bend, have solid histories of commitment to thoughtful, quality real estate developments in Central Oregon. Their goal of creating a livable and sustainable community at NorthWest Crossing is rooted in their understanding and respect for the true essence of Bend and the Central Oregon lifestyle. http://www.northwestcrossing.com

About SolAire Homebuilders

Award-winning SolAire Homebuilders of Bend Oregon is the premier custom home builder specializing in green homes and sustainable building practices. SolAire has been building quality custom homes on their client’s land since 1995. From the very first, SolAire has integrated passive solar design, energy efficient homes, and healthy indoor living into the familiar form of traditional custom homes. The company builds green custom homes throughout Central Oregon and takes great care working with clients to design quality custom homes which fit the land and distinct personal tastes. http://www.solairehomebuilders.com

About Housing Works

Housing Works, the assumed business name of Central Oregon Regional Housing Authority, is a public corporation, organized under Housing Authority Law of the State of Oregon (ORS Chapter 456). The organization serves the combined populations of Crook, Deschutes and Jefferson Counties by providing affordable housing programs and services to lower and moderate income households within our region. Through public/private partnerships, Housing Works has created a dedicated supply of award-winning affordable housing. Professionally managed, each community offers unique resources and opportunities for residents. housing-works.org

About Helping Hand Housing

Helping Hand Housing provides interim housing at reasonable costs while tenants in their program get back on their feet. During the course of one year, families in the program receive support with goal setting and referrals to community resources. The program accepts a limited amount of people at any given time, and the ultimate goal for each family in the program to become self-sufficient. 541-388-0086 x316

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