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C  Street Co-op

— The Revillaging Project —

 

A scalable model for developing resident-owned, infill housing on typical residential lots, permanently affordable to people with low-incomes.

Location: Springfield, Oregon

Type: Limited Equity Co-op

Size: 6 units on 0.1 acres

Status: Under Construction

Target Population: 60% area median income

 

 

As we face our nation’s housing crisis, cities are struggling to accommodate a growing population in neighborhoods zoned exclusively for low-density, single-family housing—which comprises roughly two-thirds of the existing housing stock here in Oregon.

The Revillaging Project reimagines our neighborhoods as vibrant communities capable of supporting a diversity of housing types, affordable to a broader mix of people.

 

This collaboration between Cultivate and SquareOne Villages puts forth a scalable model for compact, resident-owned, infill housing on typical residential lots, permanently affordable to people with low-incomes.

This vision is supported by historic legsliation: Oregon recently became the first state to ban single-family zoning, requiring cities to allow for duplexes, triplexes, fourplexes, cottage clusters, and townhouses on any lots that allow for deatached single-family housing. To build on this momentum, Cultivate and SquareOne have teamed up to develop a pilot project in Springfield, known as the C Street Co-op.

Once complete it will provide six one-bedroom units affordable to someone earning just 60% of the area median income (around $30,000/year for a single person). Future residents will collectively own the housing as part of a limited equity co-op, and SquareOne will retain ownership of the land. This helps assure affordability for generations to come.

Total development costs are just under $600,000, or $100,000 per unit. Construction financing is being provided by a group of social investors earning a modest return. By bringing just $160,000 in grant funding to the project, SquareOne is able make this housing affordable to people with low-incomes.

 

Construction is expected to be completed in Fall 2021. We're currently working to finalize the membership selection process and criteria, and are planning to release that information in January, so stay tuned!

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SquareOne Villages is a 501(c)3 non-profit  organization        |        Tax ID # 46-0801991        |        CCB # 224446        |        © 2020 SquareOne Villages