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Florence, NEDCO continue to seek affordable housing funding

June 9, 2018 — On June 4, Florence City Council approved a partnership with the Neighborhood Economic Development Corporation (NEDCO) and the Willamette Neighborhood Housing Services (WNHS) to seek grant funding for an affordable housing development in Florence. Part of the agreement involves a real property transfer of 1424 Airport Road from the city to NEDCO if the grant funding is approved within the designated timeframe.

“I don’t have to tell the city council that affordable housing is a high priority item,” said City Recorder Kelli Weese. “There is vast community support in the need for housing solutions, and we feel this is an innovative solution with the potential to be replicable throughout Florence.”

NEDCO is a private nonprofit that develops housing, helps with homeownership and focuses on community economic development. It is based in Springfield and provides services in Lane, Marion and Clackamas Counties. It recently announced plans to merge with WNHS, a similar nonprofit that develops affordable renter- and owner-occupied housing in Benton, Linn and Lincoln Counties.

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Which investment funds would invest in a profitable affordable home building company in an emerging market?


None; a publicly traded home builder in emerging markets in a beast virtually unheard of.

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