The Ava Secures Financing, Bringing 158 Affordable Homes to Eugene Residents

A new development building stability, opportunity, and community in Eugene

EUGENE, OREGON / ACCESS Newswire / October 16, 2025 /Today, Community Development Partners (CDP) closed on The Ava, a new affordable housing development that will deliver 158 high-quality, income-restricted homes in Eugene, with construction set to begin October 17, 2025. The project represents a significant investment in creating stable, community-oriented housing for individuals and families.

At The Ava, residents can experience all that Eugene has to offer while enjoying the peace and security of a home in a close-knit community. A nod to the birds in the area, the name The Ava reflects this perfect perch-a place to rest, thrive, and feel at home.

Community Impact
Situated in a transit-accessible, walkable part of Eugene, The Ava is a four-story building offering a mix of studios, one-, two-, and three-bedroom homes. Households earning 30% to 60% of the area median income (AMI)-$27,510-$55,020 for a family of four-will qualify, allowing for deeper affordability while accommodating a variety of household sizes and needs.

"We envision The Ava as a place of opportunity for Eugene residents-a meaningful space where households can put down roots and grow," said Eric Paine, CEO of Community Development Partners. "By providing stable, thoughtfully designed, and permanent affordable homes, we are helping residents build connections while strengthening the community as a whole."

The Ava is a $57 million investment responding directly to Eugene 's housing needs. By offering units for multiple income levels and diverse household types, it helps retain the local workforce, support families, and create housing opportunities where it is most needed. Its proximity to transit and neighborhood amenities promotes sustainable growth. The development will contribute to the region 's efforts to bridge the gap between skyrocketing housing costs and household earning capacity.

The Ava is being designed with a focus on community and thoughtful living. Plans include welcoming shared spaces such as a community room, study rooms, and outdoor gathering areas that encourage connection among neighbors. Apartment interiors will feature stainless steel appliances, in-unit laundry, and air conditioning. Select units will include private balconies or patios, providing residents with personal space and a sense of home.

Financing and Development
The Ava was designed by Rowell Brokaw and is being built by Gerding Builders, LLC. Guardian Property Management will oversee property operations, while Cornerstone Community Housing will serve as the resident services partner, providing comprehensive onsite programs and services to help residents build connections and thrive. A CORES-certified resident services provider, Cornerstone Community Housing will focus on health and wellness, food access and nutrition, financial stability, youth development, and community connections to support residents in leading stable and healthy lives.

The Ava represents an investment in affordable housing for the Eugene community, made possible through strong public-private partnerships. The project is financed through a combination of Low Income Housing Tax Credits (LIHTC), Private Activity Bonds, and a LIFT award from Oregon Housing and Community Services (OHCS), with additional support from the City of Eugene. Construction and permanent financing are being provided by R4 Capital Funding, with Hudson Housing Capital serving as the project 's equity investor.

SOURCE: Community Development Partners

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