ROSEBURG — NeighborWorks Umpqua will be investing $7.8 million to renovate and modernize the Hillside Terrace Apartments in Coquille, after having secured $2.5 million in competitive funding from Oregon Housing and Community Services.
Resources were approved by the Housing Stability Council on Friday, Aug. 7. The funds from OHCS will be in the form of low-cost loans and a grant for energy efficiency improvements. These funds, from dedicated non-General Fund sources, will match $5.2 million in previously secured low-cost loans for the project from the United States Department of Agriculture Rural Development. USDA RD is the primary provider of financing for housing in rural communities.
Hillside Terrace is a 39-unit multifamily property that was originally built in 1980. Hillside is home to lower-income seniors, working families and those who experience a disability. This is the only income-based rental property in Coquille.
The renovations at Hillside Terrace will improve accessibility, energy efficiency, indoor air quality and will reinvest in major building systems like roofs so Hillside Terrace can continue to provide affordable homes for many years to come.
“The funding that OHCS was able to provide for this project is vital,” said Brian Shelton-Kelley, director of acquisitions and development for NWU. “We have been working on the preservation of Hillside Terrace since 2016. With increasing construction costs, the funds from OHCS help cover those costs and permit us to move forward with the project so Hillside Terrace can be a place to call home for Coquille Valley residents for years to come.”
This project is also a key part of NWU’s commitment to addressing Oregon’s South Coast housing needs. NWU is working to develop new housing and preserve existing housing in response to the Coos County Housing Action Plan developed by a community coalition in 2018.
Construction on Hillside Terrace Apartments is anticipated to begin in early 2021.
For more information, visit www.nwumpqua.org or call 541-673-4909.
About NeighborWorks Umpqua
NeighborWorks Umpqua is a rural-focused housing and community development non-profit committed to promoting opportunity for all through quality housing, community development, property management, financial services, education, and advocacy in order to attain economic, social and environmental sustainability and equity. Started in 1991, NeighborWorks Umpqua provides over 600 units of housing, economic development opportunities, home rehabilitation services, and direct services focused on home ownership and personal finances.