In a recent meeting of the Town Center Development Agency (TCDA), officials discussed a significant development assistance agreement aimed at bolstering affordable housing in Tigard. The board considered a resolution to authorize the City Attorney and Executive Director to finalize a $500,000 development assistance agreement with Community Partners for Affordable Housing (CPAH) for the Woodland Hearth project, which will provide 63 affordable family-sized apartments.

Redevelopment Project Manager Sean Farley highlighted that this marks the second request for development assistance for Woodland Hearth, following an initial approval in April 2021 for a similar amount. If the new application is approved, the total assistance for the project will reach $1 million. The need for additional funding arises from increased construction costs and a decline in the value of low-income housing tax credits, which have created a financial gap of approximately $500,000.

The TCDA has already secured $1.5 million in state funding to help mitigate these costs. The Town Center Advisory Commission reviewed the funding request and recommended approval, emphasizing the project's potential to significantly enhance the supply of deeply affordable housing in the area.

Jillian Saueridge Felton, the housing director at CPAH, provided insights into the organization’s history and mission, noting that CPAH has been active in Tigard for nearly three decades, focusing on building and managing affordable housing. The Woodland Hearth project will feature a mix of unit sizes, including 40 family-sized apartments, and will incorporate supportive housing services in partnership with local organizations.

Construction for Woodland Hearth is slated to begin in December 2023, with an anticipated completion date in summer 2026. The project aims to address the pressing need for affordable housing in Tigard, aligning with the community's priorities for equitable development.