What's New at IHI?
State Awards Funding for the Merwyn Hotel!
IHI is pleased to announce that the State has awarded $2,879,964 of LIFT funds to restore the historic Merwyn Hotel in downtown Astoria and create 40 new units of affordable and workforce housing. Located adjacent to Astoria City Hall, the Merwyn (a.k.a. the Waldorf Hotel) has been vacant for decades. Following a vote by the Housing Stability Council on April 5th, Oregon's Department of Housing and Community Services will contribute Local Innovation and Fast Track (LIFT) funds to bring this community treasure back to life.

IHI will pair these funds with equity generated by federal Historic Tax Credits and Low Income Housing Tax Credits to develop studio and one-bedroom apartments affordable to households earning 30% and 60% of area median income. There will also be four unrestricted units with rents set at 100% of AMI for residents who do not qualify for lower rents but do not earn enough to afford market rents.

IHI is collaborating with the City of Astoria, the Economic Development Center, and the Oregon Employment Department to offer residents job shadow and job fair opportunities, along with job readiness training. IHI is also working with the Lower Columbia Hispanic Council and Clatsop Community Action Agency to conduct outreach to future residents and provide support to residents once they move into the Merwyn. We are very excited to help bring affordable housing opportunities to the hard-working community of Astoria!

Here's what the Daily Astorian had to say about the project: https://www.dailyastorian.com/news/local/housing-project-at-old-astoria-hotel-secures-key-funding/article_ac0c2e6a-5a05-11e9-a128-73bbed3bafe6.html