What’s that new construction by Prairie Mountain school?
Project: Nelson Place, a new affordable housing subdivision in west Eugene.
Location: St. Charles Street, located off of Royal Ave. in west Eugene.
Located right across the street from the Prairie Mountain K-8 school is Nelson Place, a new housing subdivision currently under construction.
Affordable housing development and asset building organization DevNW is working to add 31 new units of housing affordable to individuals and households earning up to 80% of the Area Median Income.
The Nelson Place complex plans to utilize a Community Land Trust (CLT) model, where DevNW will own the land the dwellings reside on. This separation of the land from the structures will allow future homeowners to pay monthly expenses on private mortgages which are anticipated to be less costly than paying higher rates for the inclusion of the property.
The units range from single-family starter homes to townhomes, which will not be included in the CLT model.
Karen Saxe, DevNW’s director of policy, advocacy and strategic relationships, said DevNW’s work is tailored to the needs of each of the seven counties it serves statewide. For Lane County, DevNW focuses largely on financial education courses, home buying counseling and making the pathway to homeownership more affordable and accessible.
“Homeownership is the single greatest way that Americans build wealth and it is also the largest driver of the racial wealth gap, so getting people into homeownership helps stabilize themselves, their families, our communities,” Saxe said.
“Employers see a more stable workforce when people are in permanent homeownership and it creates generational wealth-building opportunities which is really a critical part of why we do the work we do.”
While DevNW is invested in supporting those in need of financial education, asset development counseling and affordable housing, Saxe said the organization’s work doesn’t end when a home sale is made.
“The folks who will go into Nelson Place and buy homes in our community will always have access to DevNW’s services and resources,” Saxe said.
“It is important for us not only that we help them successfully and affordably get into homeownership but that we really ensure that they can maintain that over time.”
The first phase of development is on track to be ready for home sales in the spring of 2024.
Subdivision Size: About seven total acres including wetland areas that will not be developed on.
Contractor: Stonewood Construction
Sources: DevNW, City of Eugene Planning and Development Department Permit Records, Lane County Property Records
Is there something under construction that you’d like to learn more about? Contact growth and development reporter Hannarose McGuinness at 541-8449859 or hmcguinness@registerguard.com