City of Bend awards $650,000 to help lower home prices at Woodhaven Estates
Bend ORE. (KTVZ) — Thistle & Nest has received a $650,000 award from the City of Bend Affordable Housing Fund to support its Woodhaven Estates development in Southeast Bend.
The funding will offset development and construction costs, reducing purchase prices for qualifying buyers earning 80% or less of the Area Median Income.
The grant is part of a broader effort by the City of Bend to expand affordable housing options throughout the community. During the same funding cycle, Bend-Redmond Habitat for Humanity was awarded $350,000 to support homebuyer assistance for an upcoming development.
Located off Pettigrew Road, Woodhaven Estates consists of two- and three-bedroom townhomes. The city funds will be distributed to eligible buyers on an as-needed basis, with funding capped at $50,000 per household to reduce the mortgage required for purchase.
The development operates under a community land trust model. Under this structure, buyers purchase the home itself while Thistle & Nest retains ownership of the land beneath it. Resale provisions are designed to keep the homes affordable for future buyers while allowing current homeowners to build equity.
Amy Warren, board president and founder of Thistle & Nest, emphasized the challenge that local families face when trying to buy a home. “High home prices and the upfront costs of purchasing a home remain significant barriers for Central Oregon families, even when they can manage a monthly mortgage payment,” Warren said. “The City’s investment helps us close that affordability gap at Woodhaven Estates, giving more Central Oregonians the opportunity to build equity, achieve greater financial stability and remain rooted in the community where they live and work.”
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