What's New at IHI?
IHI Awarded Funding for New Family Housing in Albany
On November 16, 2011 the Central Albany Revitalization Area (CARA) Advisory Board voted unanimously to award $1.45 Million of urban renewal funds for Innovative Housing's redevelopment of the Woodland Square trailer park. The trailer park is located on a gateway parcel along Old Salem Road and has long been identified by neighbors and CARA as a blighted site in need of improvement. Innovative Housing is proposing to develop 54 new units of affordable housing for working individuals and families, including accessible flats and townhouse style family apartments.IHI's development team includes Greg Goracke and Greenberry Construction as general contractor and Bill Ryals and Gary Hartill of ORANGEWALLStudios Architecture + Planning as architects for this exciting and catalytic new project. Read more about the project and view a rendering in this recent feature story in the Daily Journal of Commerce.
With this substantial local funding commitment, IHI will now submit an application to Oregon Housing and Community Services for grants and federal low-income housing tax credits to complete development sources for this $10.6 Million project.