HDC Community Fund Loans
About our loan recipient: Based in the Dalles, Oregon, Columbia Cascade Housing Corp. (CCHC) is a nonprofit community and housing development organizations (CHDO) affiliated with the Mid-Columbia Housing Authority. CCHC provides affordable housing to communities in Oregon and Washington’s mid-Columbia region, a five-county area stretching across 7,200 square miles.
About this project: Cascade Locks is a 1,100-person community located 30 miles east of Portland in the scenic Columbia River Gorge. In 2010, CCHC partnered with the City of Cascade Locks and a group of local residents to plan and develop the community’s first housing project designed for low-income seniors. Located near shopping, health services and downtown amenities, the four-building complex provides 14 affordable rental units for low-income elderly households.
Why we're invested: CCHC needed to complete an archeological survey, soils analysis, and other due diligence work required by project funders. HDC Community Fund’s relatively small, short-term investment enabled CCHC to complete this work and close federal grants worth $1.89 million, plus the ongoing rent subsidies associated with them. The project opened its doors in 2012.