Wednesday, May 21, was a day that Carter Kachel and Nikilie Robinson will likely not forget anytime soon.
They, along with a crowd of people, raised the ceremonial wall on a home that—come this fall—will be theirs.
The home in south Albany is part of a new 176-home subdivision that will include a large number of homes affordable by people making 90% of the city’s median income, according to its builder, Hayden Homes.
“It's almost like winning the lottery," said Kachel. "It's like, I get to set my children up for generational success, rather than just me and Nikilie."
Robinson said that she was unsure if the family, which includes 2-year-old Zeta and 4-month-old Crew, would ever be able to afford homeownership.
“With this, I feel like we're just set now. We can either keep it as our forever home, or eventually, if we outgrow it, you know, sell it and keep going,” she said.
Homes in the Meadowlark Community will start at $329,000. That’s about $100,000 less than the median home sale price here in April, according to Realtor.com.
That price is even further below what homes elsewhere in parts of Oregon are selling for: About $200,000 under median for Eugene-Springfield, and $450,000 for Bend.
Meadowlark was originally planned to have 113 homes on the site with higher prices.
“After we got all of our land use approvals, we stopped, paused and had conversations with the city, and said, ‘What can we do to create more affordable housing?’ said Craig Smith, Hayden's Senior Vice President of Operations. “And so we went back to the drawing board, and came up with what you see here today.”
Smith said such projects would likely be easier to commit to if rules around zoning and reviewing the blueprints for master plan communities were expedited, and that could entice homebuilders to lean into affordability. But he also said that builders ultimately have to make that choice for themselves.
“It's a conscious decision to try to do something that is meaningful and matters. Is it the most profitable business model? No, but I think it's the right thing to do,” he said.
Kachel and Robinson’s home was made even more affordable by First Story, a nonprofit founded by Hayden Homes. It helped the family secure a 30-year mortgage with no down payment and no interest.
“You know, affordability is a crisis here, not just in Oregon but throughout the Northwest," she said. "So we're super excited to provide one solution."
She wants people to know that there’s a path that leads to homeownership, though it can be difficult during a housing crisis.
“Sometimes it feels like the path is just a dead end,” she said. “First Story is one solution. We have a lot of other housing providers that provide solutions, so just keep dreaming.”
