NeighborWorks Capital recently closed a $1,224,000 and acquisition with REACH CDC to purchase a 4.4 acre development site in Cornelius, OR. With their co-developer Bienestar Oregon, REACH will build 113 new affordable apartments for low-income families using LIHTC equity, tax-exempt bonds, and a $12.8 million loan from Washington County. When construction is complete REACH will turn over ownership to Bienestar Oregon, a leading nonprofit developer, especially supporting Latinx and immigrants in Washington County and the suburbs west of Portland.
