Cottage Village
A scalable model for developing resident-owned, infill housing on typical residential lots, permanently affordable to people with low-incomes.
Location: 1075 C St, Springfield, Oregon
Type: Limited Equity Co-op
Size: 6 one-bedroom suites on 0.1 acres
Status: Open since 2021
Carrying Charge: $825/month
Permanently Affordable for: 80% area median income or under
Project Background
$602,442
Total Project Cost
$100,000
Cost per Unit
$60,000
Total Resident Equity
Ownership Model
A unique aspect of this project is the organization of the resident community as a housing co-op in which residents self manage the daily operations and maintenance of the Village, with support and training from SOV and CVC. Each household will own a financial share in the co-op through funds set aside from their monthly rental payments. Each resident/co-op member has a vote in the co-op’s governance through a Village Council and pays a monthly carrying charge (rent) to cover maintenance costs and reserve funds. Housing co-ops have a proven track record for providing low-risk housing that is affordable to low- and moderate-income households.
Finance Model
In the News
Housing & Site Design
Cottage Village will consist of 13 permanent tiny homes—each complete with sleeping and living areas, a kitchenette, and full bathroom. The individual homes will be supported by a community gathering area, kitchen, and laundry. The development will also include infrastructure, bicycle and vehicle parking, and other requirements necessary under local multi-family land-use standards.
Cottage Village will serve residents with very low incomes (under 50% area median income) that are currently unable to access affordable housing. This includes a number of different types of people in our local community, such as veterans, seniors, single parents, and more. These people may be currently couch surfing, living out of a vehicle or tent, or at a high risk of being evicted from their current housing. CVC will conduct an application and interview process that ensures all residents meet our Membership Selection Criteria and accept the Community Agreements.
