Northpointe Development received $1,360,000 from Dane County for an affordable housing project at 831 and 871 Oregon Center Dr. in Oregon.
Northpointe’s Oregon development, CC Lane, is a 60-unit project that features 26 one-bedroom, 19 two-bedroom and 12 three-bedroom units. Twelve of the units are slated to be saved for individuals and households on the Dane County Homeless Services Consortium’s community by-name list.
According to a press release from Dane County Executive Joe Parisi, housing affordability is designated as such by taking the County Median Income (CMI) into account when setting rent and sale prices. At CC Lane, 12 units will be at 30%, 24 units be at 50% and 24 units will be at 80% of the CMI.
Parisi said that the funds given to Northpointe and other developers throughout the county come from the Affordable Housing Development Fund originally created with the county’s 2015 budget. The fund has committed an overall $31,657,792 to affordable housing projects since its inception.
“While COVID-19 and inflation have compounded challenges to develop affordable housing over the last few years, Dane County remains committed to finding solutions and increasing opportunity for all in our community,” Parisi said. “The Affordable Housing Development Fund helps bring together successful partnerships to create more affordable housing projects throughout Dane County.”
