Oregon Housing and Community Services (OHCS) has announced the approval of nearly $23 million toward creating 157 new homes across the state, with one of the largest developments destined for Medford.
The Turning Point Program in Medford is receiving just over $6 million toward the Breath of Life development of 38 housing units.
OHCS officials said this and other investments will continue to establish concrete pathways for Oregonians to pursue homeownership.
This year, OHCS changed how it grants Local Innovation and Fast Track (LIFT) homeownership funding for the development of new affordable homes through a rolling application process.
OHCS Executive Director Andrea Bell said by providing multiple opportunities for developers to apply for funding instead of all at once, this new process can help accelerate new construction timelines in service to getting homes into communities faster, especially in rural areas. In fact, 30% of the awarded projects will be built in rural communities.
Since the creation of the program in 2018, $71.3 million in LIFT funds have resulted in 47 projects with a total of 752 homes that are affordable to Oregonians.
OHCS is Oregon's housing finance agency that provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians of low and moderate income.
