Thistle & Nest, a Central Oregon nonprofit dedicated to creating sustainable, affordable homeownership opportunities, has been awarded $650,000 from the City of Bend’s Affordable Housing Fund to support its Southeast Bend development, Woodhaven Estates.
The City funding will help offset development and construction costs at Woodhaven Estates, reducing the effective purchase price of homes for qualifying buyers earning 80% or less of the Area Median Income (AMI). By lowering the amount buyers need to finance, the investment will help make homeownership more attainable for local working households in Central Oregon’s challenging housing market.
The award is part of the City of Bend’s broader commitment to expanding affordable and attainable housing opportunities throughout the community. In the same funding cycle, Bend-Redmond Habitat for Humanity was also awarded $350,000 to support homebuyer assistance for an upcoming development.
“High home prices and the upfront costs of purchasing a home remain significant barriers for Central Oregon families, even when they can manage a monthly mortgage payment,” said Amy Warren, Board President and Founder of Thistle & Nest. “The City’s investment helps us close that affordability gap at Woodhaven Estates, giving more Central Oregonians the opportunity to build equity, achieve greater financial stability, and remain rooted in the community where they live and work.”
Woodhaven Estates offers thoughtfully designed, energy-efficient two- and three-bedroom townhomes in Southeast Bend off of Pettigrew Road.
Through Thistle & Nest’s community land trust model, buyers purchase the home while Thistle & Nest retains ownership of the land beneath it. Removing the cost of the land from the purchase price makes homeownership significantly more attainable. In return, resale provisions ensure the homes remain affordable for future buyers while allowing homeowners to build equity over time. This model creates a lasting community asset: each public and philanthropic investment continues supporting affordable homeownership not just for the first buyer, but for generations of Central Oregon households.
This funding will be allocated to homebuyers on an as-needed basis, up to $50,000 per household. Those interested in Woodhaven Estates, including eligibility requirements, mortgage pre-approval information, and the homebuyer waitlist, can learn more at www.thistleandnest.org.
–This story is based on submitted information and has not been verified by our news team.
MAKE LOCAL JOURNALISM HAPPEN
Republish our articles for free, online or in print, under a Creative Commons license.
