Rockwood Village is also designed to encourage outdoor recreation with a new privately funded public park, “Neighbors Park.” Neighbors Park includes an outdoor playfield, meandering walking paths, picnic areas, a play area, and community gardens. The park will be open to the public when construction is complete in early 2022.
Rockwood Village was designed by Portland-based Waechter Architecture in collaboration with PLACE and PSU’s Center For Public Interest Design and is being built by LMC Construction. Funding for the project includes Metro Regional Affordable Housing Bond funds, 4% LIHTC equity/conduit bond financing, Oregon Housing and Community Services (OHCS) GHAP funds, OHCS Weatherization funds, equity and construction financing through KeyBank, and a permanent loan with Freddie Mac.
Rockwood Village will serve individuals and families earning 30%-70% of the area median income, with rents ranging between $500-$1,894 depending on floor plan and income level. Intended to meet the needs of larger family sizes, approximately 80% of the units are two-, three-, and four-bedrooms. Metro Regional Affordable Housing Bond funds were used to create units affordable to households making 30% or less of median family income.
Rockwood Village was also one of the first affordable housing development in Oregon to implement the IRS’ new Income Averaging guidelines for affordable housing, meaning development-wide the project will achieve an average AMI of 60% (approximately $58,020 for a family of four). Community m embers interested in exploring housing opportunities at Rockwood Village can learn more at rockwood-village.com. This work is possible through strategic partnerships with the City of Gresham, Metro, Oregon Housing & Community Services, Community Development Partners and Hacienda CDC.
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About Community Development Partners
Founded in 2011, Community Development Partners develops and operates sustainable, life-enhancing affordable housing with a focus on long term community engagement and innovative design. As a mission-driven, forward-thinking organization, CDP is focused exclusively on creating vibrant affordable housing communities that incorporate art, public parks, gardens, fresh food, and cultural and social programming. Today, CDP has successfully built or preserved 35 unique projects comprised of over 2,800 units throughout Oregon, California, Nevada, and Arizona.
About Hacienda CDC
Hacienda CDC is a Latino Community Development Corporation that strengthens families by providing affordable housing, homeownership support, economic advancement, and educational opportunities. Hacienda owns 381 affordable housing units in North and Northeast Portland and Molalla, providing safe, stable homes for over 1,500 individuals each year, over half of whom are children. Hacienda embraces a holistic approach to development with programs in Community Economic Development, Homeownership Support, and Youth and Family Support Services.