WNC JV to Break Ground on Oregon Affordable Housing

Commonwealth Development Corp., in partnership with WNC & Associates and Natives of One Wind Indigenous Alliance Unete, are soon to break ground on Pacific Flats, a 72-unit affordable housing project in Phoenix, Ore. The development, which aims to serve residents displaced by the Almeda wildfire of 2020, is scheduled for completion by June 2025.

WNC has invested approximately $25.1 million in the project. Other sources include:

• $13.5 million from Oregon Housing and Community Services LIFT Funds
• $7.8 million in 4 percent LIHTC Equity
• $3.7 million construction loan from Legacy Bank
• $674,763 deferred developer fee
• $170,000 soft loan through OHCS MEP funds
• $120,000 through the OHCS Multifamily Energy Program

The 3.7-acre project will encompass two- and three-bedroom floorplans across five garden-style buildings, along with a single-story community building. Eight of the units will be reserved for residents earning up to 30 percent of the area median income, 20 units for residents at 50 percent of the AMI and 44 units for residents earning up to 60 percent. According to a 2023 piece in the Rogue Valley Times, Jackson’s County’s AMI is $38,300 for a single person, $43,750 for families of two and $49,200 for three.

Plans call for security systems and in-unit washers and dryers, as well as patios or balconies. Common-area amenities are set to include a playground, business center, community room and gym. ACCESS, a local community action organization, will provide supportive services such as educational on-site classes.

Located at 4003-4019 S. Pacific Highway and close to Interstate 5, the site is less than 1 mile from Phoenix’s city center and some 8 miles from the Rogue Valley International Medford Airport. It is also close to the 24-acre Blue Heron Park.

Almeda wildfire’s impact on the rental market

The 2020 Almeda wildfire destroyed approximately 2,500 homes in Jackson County, including 1,500 manufactured homes within 18 communities, as reported by Casa of Oregon. An estimated 6,000 people were displaced as a result, the same source shows. The recovery costs were predicted to be around $1 billion, according to KTVL10.

Pacific Flats is Commonwealth Development Corp.’s second project to address these damages, said the company’s Senior Vice President Dan Kroetz. The fire exacerbated an already existing affordable housing shortage in the area, added WNC Senior Vice President of Originations Darrick Metz.