HDC Community Fund Loans

Rondel Court
 

About our loan recipient: Caritas Community Housing Corporation and Caritas Housing Initiatives (collectively known as Caritas Housing) are the affordable housing development and ownership entities of Catholic Charities, the social services arm of the Catholic Church in western Oregon. Catholic Charities partners with the most vulnerable, regardless of faith, to achieve lasting solutions to poverty and injustice. Since its inception in 1999, Caritas Housing has acquired, renovated and constructed 585 units of housing for low-income families, seniors and special needs populations.

About this project: Rondel Court provides affordable homes to 30 low-income families and individuals in Molalla, Oregon. The 43-year-old property is in need of major rehabilitation, with one of its three buildings having sustained damage by two separate fires and regular water infiltration. Caritas Housing has raised funds to renovate two of the existing buildings (20 units), demolish the damaged building (10 units), and build 27 new housing units. As a result of this project, an important affordable housing asset in rural Clackamas County will be preserved, improved and expanded.

Why we're invested: HDC Community Fund’s small, short-term investment enabled Caritas Housing to complete predevelopment work that was critical for leveraging more than $11 million in permanent project funding.

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