When trying to make financial sense out of building homes to sell or rent for below market prices, developers often depend on federal money for help. But Pacific Crest Affordable Housing, a Bend-based housing developer, has figured out a way to build affordable homes without relying on such uncertain funding.
Pacific Crest is planning to build a 26-cottage community in east Bend, which will be offered for sale to Bend families who make between $21,000 and $48,000 per year. The project, which will cost about $4.3 million, is being financed from private loans, the city of Bend and partnerships with other local organizations, such as Bend Area Habitat for Humanity, according to city documents.
Read more (from source): Bend’s affordable home builders look to city as federal assistance wavers