[Albany, Oregon] The Farmworker Housing Development Corporation proudly announces the official approval of the Colonia del Valle Próspero project by the Housing Stability Council, facilitated by Oregon Housing and Community Service (OHCS). This landmark achievement signifies an important stride in FHDC’s enduring commitment to affordable housing solutions across Oregon.

Scheduled for construction in Albany, Oregon, the Colonia del Valle Próspero project represents one affordable housing project in a monumental $40 million investment to preserve and construct over 400 affordable homes in Oregon. The OHCS funding for FHDC’s project includes $2,000,000 in federal 9% Low-Income Housing Tax Credits (LIHTC), $2,200,000 in HOME, and $800,000 General Housing Account Program (GHAP), playing a pivotal financial role in launching phase one of this transformative project that will include four total phases of development over the next several years to serve families and individuals earning 80% or less of the area median income.

Notably, this endeavor marks FHDC’s second affordable housing community in Linn County, reaffirming a pledge to broaden affordable housing and supportive service options in the region. The collective impact of the awarded funding will not only benefit the residents of Colonia del Valle Próspero, but will contribute to the broader aspiration of fostering vibrant and inclusive communities.

With over 30 years of dedicated service in Oregon’s mid-Willamette Valley, FHDC has established a legacy of building affordable housing for stable and secure families and communities throughout Oregon. “We are excited and motivated to bring The Colonia del Valle Próspero project to address the City of Albany’s housing goals,” said Carmen Fernandez, FHDC’s Housing Development Manager. “The project also represents FHDC’s unwavering commitment to addressing the housing needs of working families in the Willamette Valley.”

Colonia del Valle Prospero Planned Phases:

• Phase 1: 54 units of multifamily affordable housing (state funding)
• Phase 2: 100 units of multifamily affordable housing (Future state funding)
• Phase 3: Childcare & Education Center
• Phase 4: Single-family homeownership townhomes (10-12 units targeted)

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About FHDC: FHDC owns and operates over 450 units of affordable housing across 7 cities in the mid-Willamette Valley. Founded in 1991 by a coalition of diverse community leaders committed to improving housing opportunities for immigrant farmworkers, their families, and other low-income populations in Oregon, FHDC continues its mission of developing working family leadership through affordable housing, social services, education, and economic development opportunities.

For further details about the Colonia del Valle Próspero project and FHDC’s ongoing initiatives, please visit www.fhdc.org
OHCS Press Release