Eugene's efforts to mitigate the affordable housing crisis advanced with the City Council's approval of $700,000 in Affordable Housing Trust Funds (AHTF) for three distinct housing projects. One such project, Legacy Park by Cascade Housing Association, is set to receive $373,832 for the development of 47 affordable rental units on River Road, as reported by Eugene's official website. This development promises a selection of one-, two-, and three-bedroom apartments alongside amenities including a community room and a playground.
With an award of $200,000, Community Development Partners' Park Run will see the construction of 158 affordable rental units on South Garden Way. The project targets residents earning up to 60% of the Area Median Income (AMI), with some units set aside for those earning up to 30% AMI, as per the City of Eugene. This sprawling complex will feature a range of living spaces from studios to three-bedroom units and is designed with family-friendly facilities, including a children's play area.
Cornerstone Community Housing's The Lucy, poised on Hunsaker Lane, will add 36 new rental homes to the local housing mix, according to the City of Eugene. A financial shortfall prompted by rising construction and insurance costs threatened the project's viability. Yet, a lifeline in the form of a recent AHTF award totaling $136,047 and additional city financial aid has solidified its path to construction, once state funding comes through.
The continuous commitment of the Eugene City Council to fund affordable housing through the AHTF comes into its fifth year. Including the current allotment, the trust fund has directed $4 million towards the development of nearly half a thousand affordable homes, with an aggregate value exceeding $143 million. The AHTF, sourcing its coffers from a 0.5% construction excise tax, plays a pivotal role in seeding projects that cater to the housing needs of middle- and low-income populations in Eugene.
