Emerald 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
The Eugene-Springfield area suffers from a severe lack of low-income housing options. According to the 2015 Consolidated Plan, housing costs have risen sharply over the past 25 years while income levels have not kept pace. As a result, a significant majority of lowincome renters (76%) have a “housing cost burden,” which means they spend more than 30%of their income on housing and utilities. A majority (51%) have a “severe cost burden” and spend more than 50% of their income on housing.
As a new and innovative approach to affordable housing, EVE is being funded by generous donations from community members and grants from local and regional foundations. Local architects and builders are providing in-kind services to design and build fourteen of the tiny houses, and a System Development Charge (SDC) credit from the City further helped reduce costs. Hopefully, EVE will serve as a demonstration project to spur the funding and development of more cost-effective affordable housing.
$602,442
Total Project Cost
$100,000
Cost per Unit
$60,000
Total Resident Equity
Ownership Model
Unlike most affordable housing projects, residents of EVE are not simply renters, they are members of a housing co-operative. And the property is held in by SquareOne Villages with the intent of retaining the asset as affordable housing in perpetuity. A long-term ground lease ties the interests of both parties together, creating a partnership that helps ensure the longer-term viability of the co-op. SquareOne is able to serve in an advisory role, providing support to the co-op in the form of technical assistance, training, and leadership development. And due to its sustained involvement in the project, SquareOne also serves as a “mission steward” during periods of leadership change and member turnover within the co-op. Members make monthly payments of between $200 - 300 to the co-operative to cover utilities, maintenance, long-term reserves, and all other operating costs. Each member also pays a membership fee of $50 per month—enabling them to create a modest asset that can be cashed out if, and when, they choose to leave.
Finance Model
As a new and innovative approach to affordable housing, the capital costs were funded largely by private donations, and lots of in-kind contributions. In fact, we counted over 200 local businesses that have contributed to the project in some way. As a result of this outpouring of support, we are able to build Emerald Village for around just $55,000 per unit, including the cost of land. Unlike most affordable housing projects, residents of EVE are not simply renters, they are members of a housing co-operative. And the property is held in by SquareOne Villages with the intent of retaining the asset as affordable housing in perpetuity.
In the News
Housing & Site Design
Each of the 22 homes at Emerald Village are designed as permanent dwellings on a slab foundation—complete with sleeping and living areas, kitchenette, and bathroom—all in 160 - 288 square feet. Various teams of Local architects and builders provided in-kind services to lead the design and construction of 14 of the tiny homes at Emerald Village—allowing for a variety of compact design and construction methods to be demonstrated. SquareOne led the design and construction of the other 8 homes using structural insulated panels (SIPs). The individual dwellings are supported by a Community Clubhouse that includes a flexible use gathering area, community kitchen, laundry, restroom, and storage of common resources like tools and other appliances. Construction of EVE began in May 2017 as a collaboration between local contractors, community volunteers, and future residents (each resident put in at least 50 hours of sweat equity during development stages).
