Funding Award Greenlights Cornelius Place Development: Affordable Housing for Seniors and New Library to Break Ground in Summer 2017
CORNELIUS, OR, November 21, 2016—The City of Cornelius announced today that an award of low-income housing tax credits and grants from Oregon Housing and Community Services (OHCS) will catalyze the construction of Cornelius Place, a mixed-use development with a new public library and 45 apartments for seniors with low incomes.
The development, co-sponsored by nonprofits Bienestar, Inc., and BRIDGE Housing, is expected to break ground in the summer of 2017. The residential component will include two floors of studio, one- and two-bedroom apartments for adults age 55+ with household incomes of up to 50-60% of area median income. Amenities will include a landscaped courtyard, community room, and on-site laundry.
In addition to the OHCS allocation, Cornelius Place received local commitments of HOME dollars from Washington County and a number of Project Based Section 8 vouchers from the Housing Authority of Washington County, making the development financially feasible and allowing it to offer even deeper affordability.
The ground floor will feature an expanded Cornelius Public Library, with much-needed community convening space and a YMCA center. The new library will provide a variety of services to support children, families, and seniors, including pre-reading and early education programs, student success programs and adult education. The Cornelius Public Library, which is closing in on the last $800K of its $4.8M capital campaign fundraising goal, expects the OHCS award to accelerate the final fundraising push.
“The Cornelius Place Development will be a cornerstone of our city,” said Cornelius Mayor Jef Dalin. “The new, budget friendly housing for senior adults will contribute to a vibrant, healthy community.”
“The need for affordable housing is so great, and predicted to increase across the Metro region over the next decade and beyond,” said Ann Blaker, Executive Director of Bienestar. “This project helps meet the need for people 55 and older who are quickly finding themselves priced out of the housing market. We have been receiving calls for over two years from people seeking affordable housing for older adults – for themselves or often for their parents. Bienestar is pleased to act in partnership with BRIDGE Housing and the City of Cornelius, enabling us to assemble the financing necessary to begin development.”
“The affordable housing crisis affects everyone in Oregon, whether they live in rural areas or cities, and it’s going to take all of us working together to solve it,” said Congresswoman Suzanne Bonamici. “Congratulations to Cornelius Place on securing federal and state funding to create 45 new homes for low-income seniors. We need more collaborations like this to make sure that all seniors, and all people, have a safe and affordable place to live.”
Bienestar is a local nonprofit that has provided affordable housing for low-income individuals and families in western Washington County since the 1980s. Founded in 1981 to provide decent, safe housing for farmworker families, Bienestar now owns 12 multi-family properties serving farmworker families and low-income working families. This development marks Bienestar’s entre into housing and services for older adults. For more information, visit www.bienestar-or.org.
About BRIDGE Housing
BRIDGE Housing Corporation, a leading nonprofit developer of affordable housing, creates and manages a range of high-quality, affordable homes for working families and seniors. Since it was founded in 1983, BRIDGE has participated in the development of over 16,000 homes in California and the Pacific Northwest. For more information, visit www.bridgehousing.com.