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Affordable-housing owners warn of growing preservation crisis; industry seeks bond funding and program support
Summary
State housing officials, nonprofit operators and lenders told lawmakers that rising costs and insurance spikes have left many affordable rental properties financially fragile, with OHCS reporting 3,641 units’ affordability expirations by mid‑2029 and 39% of their portfolio at or below breakeven debt coverage ratios in 2023.
Lawmakers heard Sept. 29 that Oregon faces an urgent affordable‑housing preservation and stabilization problem as projects age, costs rise and revenue remains constrained.
Natasha Detweiler Davie, director of affordable rental housing at Oregon Housing and Community Services (OHCS), told the committee that there are “over nearly 4,000, 3,641 units that are anticipated and due to expire in those affordability restrictions between now and 06/01/2029.” She said OHCS’s internal analysis of audited 2022–23…
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