Recognizing the need for modernization, MCHA plans to tear down the existing structures and replace them with a single, two-story building that will house 45 units.This new development will provide more space for families and include one-bedroom apartments to accommodate multi-generational households. “Instead of having eight people crammed into a very small four-bedroom, these floor plans will be much bigger,” Icenbice emphasizes. The redevelopment of Farmdale will also include the construction of 12 single-family homes on an adjacent acre and a half of land. These homes will be available for purchase by lower-income families, filling a critical gap in the starter home market. NAVIGATING FINANCING AND UNCERTAINTY Financing remains a significant challenge for affordable housing development, particularly given the current state of interest rates. “Probably our biggest financial concern would be the current state of our interest rates,” Icenbice states.Although these REVITALIZING FARM LABOR HOUSING One of MCHA’s oldest properties, the Farmdale Apartments in Woodburn, was originally developed as farm labor housing in the early 1970s. While still functional, these units are small and outdated. Icenbice describes the challenges: “A four-bedroom unit out there is only 900 square feet. We have twobedroom apartments in our portfolio that are bigger.” Bremik Construction is excited to team with Marion County Housing Authority on their Farmdale Housing Project in Woodburn and continue to support their mission in building affordable housing! 182 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 09
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