FOR IMMEDIATE RELEASE
Contact: Grant Beck, Marketing and Communications Manager
Phone: (202) 851-7550
Nonprofit CDFI works to preserve affordable housing in Oregon communities
LOUISVILLE, KY – March 15, 2018 – Next Step® Network is pleased to announce that Network for Oregon Affordable Housing (NOAH), a mission-driven lender working to solve Oregon’s housing affordability crisis, is joining Next Step’s efforts to promote the use of affordable, energy-efficient factory-built homes. Since 1990, NOAH has funded more than $316 million in loans for over 260 properties and more than 9,800 units, leveraging more than $1.28 billion in total project capital.
“Next Step is thrilled to have NOAH join our network of organizations and advocates dedicated to expanding factory-built housing solutions,” said Stacey Epperson, president & founder of Next Step Network. “NOAH has already taken strides to preserve manufactured housing in Oregon, and we look forward to bolstering their efforts to preserve this critical source of affordable housing.”
NOAH is committed to assisting with the acquisition, preservation and improvement of manufactured home parks to enhance livability and housing stability for very low- and low-income Oregonians. NOAH has taken innovative approaches to address this challenge, including: convening a peer learning collaborative, raising capital to expand the Oregon Housing Acquisition Fund, and hosting a policy and best practices convening.
“There are nearly 140,000 manufactured homes in our state, and NOAH is dedicated to preserving this critical source of affordable housing stock for Oregonians,” said Bill Van Vliet, executive director of NOAH. “By joining Next Step’s network, we can leverage more tools, resources and relationships, allowing us to expand homeownership opportunities for more individuals and families.”
Next Step works to bring energy-efficient, high performing and affordable homes to communities across the country. Next Step leverages expertise in the manufactured housing space to build relationships between leaders in the industry, nonprofit housing organizations, lending institutions and other key stakeholders to expand the use of factory-built housing as a viable, sustainable homeownership solution.
About Next Step® Network
Next Step Network mobilizes a national network of mission-driven nonprofits, leaders in the manufactured housing industry and lending institutions serving home buyers and homeowners in their communities. Next Step’s system – Manufactured Housing Done Right® – connects responsible financing, comprehensive homebuyer education and delivery of high-quality, ENERGY STAR® manufactured homes at scale, creating a model that brings more value to the customer. Learn more at www.nextstepus.org.
NOAH is a certified nonprofit community development financial institution (CDFI) that was established initially by Oregon banks to increase the state’s supply of affordable housing while fostering smart development and community revitalization. With total assets exceeding $124 million, NOAH offers a variety of loan products to support the acquisition, renovation and construction of affordable housing properties throughout the state. Learn more at www.noah-housing.org.