Longstanding and well-known builders of homes in the City of Hood River, Mike Kitts and Doug Beveridge, are continuing to build their reputation for completing affordable and workforce housing projects. Over the last 20 years, Mike Kitts and Doug have built over 450 homes in Hood River. They are adding more units to that roster, with the development of a housing project on Belmont Drive. This project leverages their track record for addressing the “missing middle” market by constructing and selling home below market rate.
For this project, Mike and Doug partnered with a local land owner to develop an 18 unit single family housing project. Obtaining financing through the North Central Oregon Attainable Housing Development Revolving Loan Funds, the project is addressing a segment of the market that has been underserved. The fund is designed to spur development of housing at rates affordable to those who live and work in the region (generally 60-120% of median family income). While Mike and Doug would have been able to proceed with the project without the support from the Attainable Housing fund, financing helped them accelerate the phases of development. The homes had a huge demand even prior to construction, with new homeowners encompassing individuals core to the heart of the Hood River community. Doug states: “Thanks to the Regional Solutions/MCEDD loan program, we were able to get 18 homes built in just under 11 months which simply wouldn’t have been possible without [that] funding. With the help of Attainable Housing Loan program, we now have teachers, firemen, nurses, an electrician, and a host of other people who now are able to live in the community they work in.”
Through the North Central Oregon Attainable Housing Development Revolving Loan Program, MCEDD offers flexible financing for housing development and housing rehabilitation in Hood River, Wasco and Sherman counties. The fund is designed to spur development of housing at rates affordable to those who live and work in the region (generally 60-120% of median family income). MCEDD also has a Business Loan Program that is available to entrepreneurs, start up businesses and existing businesses doing business in the five county (Sherman, Hood River, Wasco, Klickitat and Skamania) Mid-Columbia Area. Both of these loan programs are part of MCEDD’s efforts to strengthen and support the region’s economy. Contact MCEDD at 541-296-2266 or email@example.com for more information on these MCEDD loan program.