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December 23, 2016

Northwest Passage Financing Closes and Construction Commences!

We are pleased to announce the commencement of construction for Northwest Passage. Northwest Passage is a new construction multifamily apartment complex located just off Main Street in Donnelly, Idaho that will provide housing for 36 families. As planned, this 2 building complex will provide mixed income housing for residents of Valley County, including 32 Low Income Housing Tax Credit ("LIHTC") units and 4 market units. The 32 LIHTC units will offer affordable rents for qualifying applicants.

We are pleased to partner with VCD, LLC ("VCD") once again as our co-development partner for this project. VCD put together a competitive tax credit application for this project and, with NWRECC's firm commitment to be co-developer and sponsor, was successful in receiving an award of LIHTC in November 2015.

Northwest Passage
Northwest Passage rendering

Closing on the LIHTC equity investment and financing for this project took place in December 2016. Funding sources obtained for the $7.9 million project include:

  • Low Income Housing Tax Credits (LIHTC) by Idaho Housing and Finance Association (IHFA)
  • Equity for the LIHTC by Boston Capital as Investor/Syndicator
  • Construction Loan Financing by Wells Fargo Bank
  • Perm Loan Financing (USDA Insured) by Bonneville Multifamily Capital
  • Deferred Developer Fee

Having achieved closing for the financing, Notice to Proceed for the construction phase of this project has been issued under the guidance of our construction team: CSDI Construction (General Contractor), CSHQA (Architect), NWRECC and VCD (Developers). We expect approximately 11 months of construction with substantial completion scheduled for November 2017.

Construction of this much needed housing will provide a mix of units including 1, 2 and 3 bedroom units with 1 or 2 bathrooms. All units will include dishwashers, garbage disposal, refrigerators, range with hood, washer/dryer hook ups, and a private patio/deck. Common amenities will include a community building with a large gathering area, kitchen facilities, restrooms, a computer/study room, and manager’s office. The property will also provide a children’s play area and onsite covered parking.

December 29, 2015

Trailwinds Apartments

We are pleased to announce the completion of construction of the Trailwinds Apartments, located in Garden City, Idaho. This is the culmination of our first co-development effort with VCD, LLC and is Northwest’s fourth new construction co-development project. The 64 units offered at this location provide much needed affordable housing inventory in the Boise-Nampa Metro Area.

A Groundbreaking Ceremony was held September 25, 2014 and final construction completion was achieved in December 2015. The Ribbon Cutting Ceremony held December 3, 2015 recognized our business partners for their contributions to the success of this project.

Garden City’s Mayor John Evans spoke at this celebratory event. The cooperative efforts by the City of Garden City were instrumental in the success of this project! Other business partners who contributed to the success include:

  • Garden City Urban Renewal Agency (provided Tax Increment Financing)
  • Idaho Housing and Finance Association (awarded the Low Income Housing Tax Credits)
  • Boston Capital (Syndicator for the Low Income Housing Tax Credits)
  • KeyBank (Construction Lender)
  • Greystone (Perm Lender)
  • DL Evans Bank (Bridge Lender for the Tax Increment Financing)
  • Private Donation to Northwest which is long term soft debt to the project
  • Hutchinson Smith Architects
  • Village Builders

Here at Northwest Real Estate Capital Corp., we are proud to have a share in providing such quality affordable and energy efficient housing!

Thank you to all who shared in making the construction of Trailwinds Apartments a success!

Photos of Trailwinds Apartments
Ribbon Cutting Flyer for Trailwinds Apartments

September 19, 2014

Trailwinds Apartments Financing Closes and Construction Commences!

We are pleased to announce the commencement of construction for Trailwinds Apartments. Trailwinds is a new construction project located at 417 E. 42nd Street in Garden City, Idaho that will provide housing for 64 families. This planned 3-story building with elevator and interior corridors will provide 57 Low Income Housing Tax Credit ("LIHTC") units and 7 market units. The 57 LIHTC units will have multiple income/rent restriction set asides as well as a 25% set aside for disabled families (as defined by Idaho Housing & Finance Association).

Trailwinds Apartments
Trailwinds Apartments rendering

We are very pleased to partner with VCD, LLC ("VCD") as co-developer and co-sponsor for this project as well as being the designated Management Agent. VCD put together a very competitive tax credit application for Trailwinds and, with NWRECC's firm commitment to be co-developer and co-sponsor, was successful in receiving an award of LIHTC in April 2014.

Closing on the LIHTC equity investment and financing for this project took place in September 2014. Funding sources obtained for the $11.1 million project include:

  • Low Income Housing Tax Credits (LIHTC) by Idaho Housing and Finance Association (IHFA)
  • Equity for the LIHTC by Boston Capital as Investor/Syndicator
  • Construction Loan Financing by KeyBank NA
  • Perm Loan Financing by Greystone Servicing Corporation
  • Tax Increment Financing (TIF) from Garden City Urban Renewal Agency (with TIF Bridge Loan financing anticipated from D.L. Evans Bank)
  • Private Donation to NWRECC which will be long term soft debt to the project
  • Deferred Developer Fee

Having achieved closing for the financing, Notice to Proceed for the construction phase of this project has been issued under the guidance of our construction team: Village Builders (General Contractor), Hutchison Smith Architects (Architect), VCD and NWRECC’s Development Group. We expect approximately 11 months of construction with substantial completion scheduled for August 2015.

Construction of this much needed housing will provide a mix of units including 1, 2 and 3 bedroom units with 1 or 2 bathrooms. All units will include air-conditioning, dishwashers, double-basin sink, garbage disposal, refrigerators, range with hood and washer/dryer. Each unit is designed for spacious living rooms and bedrooms with quality floor coverings and finishes, and a private patio/deck. Common amenities will include a secure common entry and an optional security system for first floor units, indoor bicycle storage, an exercise room, a computer/study room, free Wi-Fi internet access, reading area in the common room, and common patio, as well as a children's play area and a manager's office.

December 31, 2013

High Valley Estates Rehabilitation Completion

We are pleased to announce the completion of rehabilitation of the High Valley Estates, located in Klamath Falls, Oregon. This is the 23rd project that we have successfully rehabilitated in the state of Oregon, and our 32nd rehab project overall. This preservation of 36 units subsidized by HUD will ensure this property remains in the affordable housing inventory in the City of Klamath Falls for years to come.

Construction began in January 2013 and was completed on schedule in October 2013. A ribbon cutting ceremony was held on October 30th, 2013 to celebrate the completion of the rehab with our High Valley families and to recognize our business partners for their contributions to the success of this project. Beaverton's Mayor Todd Kellstrom spoke at this celebratory event.

The families residing at High Valley Estates were so pleased with their “like new” homes that they sent us a number of letters expressing their appreciation. We would like to share a few excerpts from their comments:

"A million thanks for changing the face of poverty....You have made affordability, beauty and comfort a reality in my home....This place has changed my life. It is providing me the foot up I need to better myself, my life and the lives of my children. Thank you for the rehab and giving me this amazing life changing opportunity in this beautiful new home."

"Thank you for making our home comfortable and clean, and proud to call home."

"I am very grateful for the company being given this opportunity to turn the apartments into homes."

"I love to show off the house to all my friends and family. It looks beautiful and I love to call this my home."

"New energy saving appliances, windows and doors, it makes me feel good to know that our winters will be warmer in our home."

"Most of all we really like our new upstairs wall because we feel safer with our 7 month old baby. That wall will protect him more and we don’t have to worry about him falling."

"My favorite change would have to be the new little wall at the top of the stairs. I love how more safe it is for kids."

"You already saved us not to be homeless. Now you give us everything with brand new! Thank you so much that you care for us this much!"

Here at Northwest Real Estate Capital Corp., our hearts are touched! We echo the families at High Valley Estates: "Thank you to all who shared in making this rehabilitation project a great success!"

View before and after photos of this project.

August 13, 2013

The Bank of America Charitable Foundation Award!

We are pleased to announce the receipt of a $2,000 grant awarded to Northwest Real Estate Capital Corp. by The Bank of America Charitable Foundation. These funds were awared to assist in covering the cost of property reports for Coeur d' Alene Manor Apartments. The property reports are a necessary component for a competitive 9% LIHTC application we plan to submit to Idaho Housing & Finance Association.

Located in Coeur d' Alene, Idaho, this apartment complex serves the elderly population by providing rent subsidized housing. However, as with most apartment buildings over 40 years old, it is in need of rehabilitation. We hope to provide the funds for rehabilitation by obtaining an award of Low Income Housing Tax Credits.

We wish to express our gratitude to The Bank of America Charitable Foundation for their award of grant funds that will assist us in our efforts for the preservation of this property.

February 1, 2013

The Reedsport properties (Ridgeway, Riverside I, Riverside II) have been awarded a Resident Service Coordinator grant

HUD has announced the fiscal year 2012 Resident Service Coordinator grants. NWRECC has been awarded a grant totaling $167,877 for Ridgeway, Riverside I, and Riverside II Apartments located in Reedsport, Oregon.

This grant will allow NWRECC to hire a Resident Service Coordinator to assist our senior and disabled residents at these three properties by identifying and providing the critical support services necessary for our residents to "age in place".

February 1, 2013

Mill Creek Apartments has been awarded a Resident Service Coordinator grant

HUD has announced the fiscal year 2012 Resident Service Coordinator grants. NWRECC has been awarded a grant totaling $160,461 for Mill Creek Apartments located in Lewiston, Idaho.

This grant will allow NWRECC to hire a Resident Service Coordinator at Mill Creek to assist our senior and disabled residents by identifying and providing the critical support services necessary for our residents to "age in place".

January 31, 2013

High Valley Estates Rehabilitation Has Begun!

We are pleased to announce the commencement of rehabilitation of the High Valley Estates Apartments, located in Klamath Falls, Oregon. This will be our 19th rehabilitation project in the state of Oregon, and our 32nd rehab project in the Pacific Northwest. Our acquisition and rehabilitation of this 36-unit family property will preserve another project with Section 8 project based HUD subsidy. The financing structure includes competitive 9% LIHTC, a construction loan and perm financing.

Beginning with an interim acquisition closing in February 2011, we closed on the investment and financing for this project in December 2012. Funds awarded for the project by Oregon Housing and Community Service (OHCS) include: Housing Development Grant Program (HDGP) and Low Income Weatherization Program (LIWX), Low Income Housing Tax Credits (LIHTC) and Oregon Affordable Housing Tax Credits (OAHTC). We have partnered with PNC Real Estate as Investor/Syndicator and JP Morgan Chase Bank as Construction and Perm Lender and purchaser of the OAHTC allocated by OHCS. Soft financing in the form of deferred developer fee will be provided by NWRECC to fill the financing gap. We now have loan and equity funding in place to commence the much needed rehabilitation at this property.

Having achieved closing for the financing, Notice to Proceed for the construction phase of this project was issued December 27, 2012 under the guidance of our rehab team: CSHQA, A Professional Association Architectural and Engineering, P.C. (Architect), CSDI Construction, Inc. (General Contractor), and NWRECC (Development Group and Operations). We expect approximately 11 months of rehabilitation with substantial completion scheduled by November 2013.

Rehabilitation of the property's nine buildings include replacement of exterior structural conditions such as roofs, windows and sliding doors, siding repair and paint; repair to parking lot, sidewalks and fencing. Interior structural conditions scheduled for improvement include replacement of kitchen and bathroom cabinets and countertops, floor covering replacement, along with fixture and appliance replacement as needed. Accessibility standards will be improved in the property's common areas and accessible units.

January 31, 2013

Crestview Court Apartments Rehabilitation Completion

Completion of the Crestview Court Apartments rehab project was achieved, on schedule, in December 2012. Construction began immediately after closing on March 15, 2012 and was substantially complete by December 20, 2012. A ribbon cutting ceremony will be held in March 2013 to celebrate the completion of the rehab with our Crestview Court families and recognize our business partners for their contributions to the success of this project. Beaverton's Mayor Denny Doyle has agreed to speak at this upcoming event.

The families residing at Crestview Court are pleased construction has been completed and are enjoying their "like new" homes. One resident expressed her appreciation in a note saying: "Thank you to everyone who helped put this together, I am so grateful!"

An indication of the full impact of the work done is easily visible from any angle outside. The new tri-color siding, windows and deck railings have greatly enhanced the appearance of this property. The scope of rehab for the apartment units moved a number of residents to write to us and we would like to share some of their comments:

"Thank you for my brand new apartment!"
"I like very well!"
"My favorite parts of the apartment are the bathroom and kitchen. I just love cooking in the brand new oven..."
"I am so happy to be able to call this home!"

We echo the happy families at Crestview Court: "Thank you to all who shared in making this project a great success!"

View before and after photos of this project.

June 20, 2012

Pioneer Square Apartments rehabilitation completion.

NWRECC is pleased to announce the completion of rehabilitation of the Pioneer Square Apartments, located in Boise, Idaho. This is the 13th project that NWRECC has successfully rehabilitated in the state of Idaho, and our 30th rehab project overall. The acquisition and rehabilitation of this property was a critical accomplishment for the preservation the 43 units subsidized by HUD for families in the downtown area. The financing structure utilized competitive 9% LIHTC, construction and permanent financing, along with a tax credit equity bridge loan.

We closed on the financing and tax credit partnership for this project in August 2011. Our combined funding sources provided $5.5 million for the project's acquisition and rehabilitation. PNC Real Estate, agreed to purchase the LIHTC that were allocated to the project by Idaho Housing and Finance Association (IHFA). The construction loan, permanent loan, and tax credit equity bridge loan have been provided by PNC Bank. Soft financing was provided by NWRECC to fill the financing and equity gap.

Our rehab team for this project included CSHQA (Architect), CSDI Construction (General Contractor), and NWRECC (Developer). Construction began September 1, 2011 and was substantially complete, within schedule, by May 18, 2012. A ribbon cutting ceremony was held June 8, 2012, to celebrate completion of the rehab on this project and also to announce the grand opening of the seventh Northwest Stepping Stones Computer Learning Center (Stepping Stones blog) and Idaho's newest HUD Neighborhood Networks.

The scope of rehab for the eight residential buildings included improvement to exterior structural conditions such as new roofing, new siding, window and sliding door replacement, structural reinforcement to decking, and the addition of new privacy patio walls for apartments located along the Pioneer Walkway. Site work included sidewalk and parking lot repair and replacement, as well as new fencing along the Pioneer Walkway. Interior structural improvements such as extensive plumbing repair/replacement, additional insulation in the attics and crawl spaces, addition of new through the wall air conditioning in all units, replacement of kitchen and bathroom cabinets and countertops, floor covering replacement, along with fixture and appliance replacement as needed. Accessibility standards were improved in the property's common areas and accessible units, including the addition of an accessible office and community room.

Thank you to all who made this project a success!

View before and after photos of this project.

April 6th, 2012

Crestview Court Apartments rehabilitation starts.

Northwest Real Estate Capital Corp. is pleased to announce the commencement of rehabilitation of the Crestview Court Apartments, located in Beaverton, Oregon. This will be our 18th rehabilitation project in the state of Oregon, and our 31st rehab project in the Pacific Northwest. Our acquisition and rehabilitation of this 48-unit family property will preserve another project with Section 8 project based HUD subsidy. The financing structure includes competitive 9% LIHTC, a tax credit equity bridge loan that will provide necessary funds during construction and perm financing.

Beginning with an interim acquisition closing in June 2010, we closed on the financing for this project in March 2012. The project is funded through a combination of grant funds (GHAP and Weatherization), Low Income Housing Tax Credits (LIHTC) and Oregon Affordable Housing Tax Credits (OAHTC) from Oregon Housing and Community Services (OHCS). We have partnered with PNC Real Estate as investor/syndicator, PNC Bank as bridge lender, and US Bank as the perm loan lender and purchaser of the Oregon Affordable Housing Tax Credits (OAHTC) allocated by OHCS. Soft financing in the form of deferred developer fee will be provided by NWRECC to fill the financing gap. We now have loan and equity funding in place to commence the much needed rehabilitation at this property.

Having achieved closing for the financing, the construction phase of this project began March 15, 2012 under the guidance of our rehab team: CSHQA, A Professional Association Architectural and Engineering, P.C. (Architect), CSDI Construction, Inc. (General Contractor), and NWRECC (Development Group and Operations). We expect approximately 10 months of rehabilitation with substantial completion scheduled for December 2012.

Rehabilitation of the property's three residential buildings include replacement of exterior structural conditions such as roof, siding, window and sliding doors; repair to the parking lot, sidewalks and fencing. Interior structural conditions scheduled for improvement include addition of through the wall air conditioners, replacement of kitchen and bathroom cabinets and countertops, floor covering replacement, along with fixture and appliance replacement as needed. Accessibility standards will be improved in the property's common areas and accessible units.

October 13th, 2011

Mill Creek Apartments rehabilitation complete.

NWRECC is pleased to announce the completion of rehabilitation of the Mill Creek Apartments, located in Lewiston, Idaho. This is the 12th project that NWRECC has successfully rehabilitated in the state of Idaho, and our 29th rehab project overall. The acquisition and rehabilitation of this 41-unit property includes a manager's unit and 40 units subsidized by HUD for the elderly. Financing structure utilized competitive 9% LIHTC, construction and permanent financing, along with a tax credit equity bridge loan.

Beginning with the acquisition closing in May 2010, NWRECC closed on all the financing for this project by January 2011. Our funding sources provided $3.6 million for the project's acquisition and rehabilitation. Homestead Capital, a wholly owned subsidiary of National Equity Fund (NEF), agreed to purchase the LIHTC that were allocated to the project by Idaho Housing and Finance Association (IHFA), while the construction loan, permanent loan, and tax credit equity bridge loan have been provided by Utah Community Reinvestment Corporation (UCRC). Soft financing was provided by NWRECC to fill the financing gap.

Our rehab team for this project included CSHQA (Architect), CSDI Construction (General Contractor), and NWRECC (Developer). Construction began January 14, 2011 and was substantially complete, within schedule, by September 9, 2011. A ribbon cutting ceremony was held September 29, 2011, after the final inspection.

The scope of rehab for the two-wing residential building included improvement to exterior structural conditions such as roof, siding, window and sliding door replacement, parking lot, sidewalk and fencing repair and replacement. Interior structural conditions that were improved included replacement of kitchen and bathroom cabinets and countertops, floor covering replacement, along with fixture and appliance replacement as needed. Additionally, the plumbing system was replaced; fire alarm system upgraded and accessibility standards were improved in the property's common areas and accessible units.

Thank you to all who made this project a success!

View before and after photos of this project.

July 21st, 2011

Windwood Apartments has its Grand Opening after being rehabilitated.

NWRECC is pleased to announce the completion of rehabilitation of the Windwood Apartments, located in Jerome, Idaho. This is the 11th project that NWRECC has successfully rehabilitated in the state of Idaho, and our 28th rehab project overall. The acquisition and rehabilitation of this 30-unit HUD subsidized family property utilized competitive 9% LIHTC, construction and permanent financing, along with a tax credit equity bridge loan.

Beginning with acquisition in May 2010, we closed on all the financing for this project by January 2011. Our funding sources provided $3.5 million for the project's acquisition and rehabilitation. Homestead Capital, a wholly owned subsidiary of National Equity Fund (NEF), agreed to purchase the LIHTC that were allocated to the project by Idaho Housing and Finance Association(IHFA), while the construction loan, permanent loan, and tax credit equity bridge loan have been provided by Utah Community Reinvestment Corporation (UCRC). Soft financing and deferred developer fee was provided by NWRECC to fill the financing gap.

Our rehab team included CSHQA (Architect), CSDI Construction (General Contractor), and NWRECC (Developer). Construction began January 14, 2011 and was substantially complete, on schedule, by June 27, 2011. A ribbon cutting ceremony was held July 21, 2011, after the final inspection.

The scope of rehab for the four residential buildings and one common building included improvement to exterior structural conditions such as roof, siding, window and sliding door replacement, parking lot, sidewalk and fencing repair and replacement. Interior structural conditions that were improved included replacement of kitchen and bathroom cabinets and countertops, floor covering replacement, along with fixture and appliance replacement as needed. Accessibility standards were improved in the property's common areas and accessible units. Other improvements included the children's play area and addition of a picnic shelter.

Thank you to all who made this project a success!

View before and after photos of this project.

February 7th, 2011

Payette Plaza Apartments opens the newest Neighborhood Network Center

We are pleased to announce The Grand Opening of our newest Stepping Stones computer learning center.

This affordable housing community is located in Payette, Idaho and is sponsored by Idaho Senior Health Insurance Benefit Advisers (SHIBA).

Our learning center is a certified Medicare site. Certified counselors will provide assistance to elderly persons within the Payette, Idaho community with Medicare, Medicare Supplements, Long Term Care Insurance, HMO's, the Prescription Drug Coverage Plan, and Preventative Screenings Medicare benefits.

  • Veteran learning and outreach programs will be provided.
  • Independent living skills training, debt reduction, nutrition, and cooking on a budget classes.
  • Financial literacy and identity theft education.
  • Talking Book Service.
  • Computer basics, email and web surfing basics to connect residents to health care, family, and more.

October 18th, 2010

Burrell Street Station Apartments opens a Neighborhood Network Center

We are pleased to announce The Grand Opening of Burrell Street Station Apartments' Neighborhood Network Center.

This low income senior and disabled community is located in Lewiston, Idaho and is sponsored by Idaho Senior Health Insurance Benefit Advisers (SHIBA). Certified counselors provide assistance to our elderly within our Lewiston community with Medicare, Medicare supplements, Long Term Care Insurance, HMO's, and the Prescription Drug Coverage and Preventative Screenings Medicare Benefits.

  • Our learning center will be a certified Medicare site.
  • Lewis and Clark State College (LCSC) - Students from LCSC's Service Learning Program teach computer skills, email, and web surfing to our residents.
  • The Idaho Division of Veterans Services- Staff members provide learning and outreach programs to assist veterans.
  • Wells Fargo- Hands on Banking - Financial Literacy Class, Identity Theft Classes, Credit Repair Courses & First Time Home Buyer Classes.
  • Internet, typing, Microsoft Office.
  • Nutritional and cooking on a budget.
  • Health and Disease Prevention.

May 18th, 2010

Franklin Grove Apartments has been awarded a Resident Service Coordinator grant

NWRECC takes another step forward!

HUD has announced the fiscal year 2009 Resident Service Coordinator grants. NWRECC has been awarded a three year Service Coordinator grant totaling $147,839 for Franklin Grove Apartments located in Boise, Idaho.

This grant will allow NWRECC to hire a Resident Service Coordinator at Franklin Grove Apartments to assist our senior and disabled residents by identifying and providing the critical support services necessary for our residents to "age in place".

Click here to read the full announcement: HUD Press Release

March 12th, 2010

Franklin Grove Apartments opens a Neighborhood Network Center

We are pleased to announce The Grand Opening of Franklin Grove Apartments' Neighborhood Network Center.

The Franklin Grove computer learning center is Idaho's newest and largest HUD Neighborhood Network. It has 10 new computers with DSL which can help lower-income senior, disabled and veteran families reach their goals and achieve economic self-sufficiency through education.

  • Our learning center will be a certified Medicare site
  • The Idaho Division of Veterans Services will provide learning and outreach programs to assist veterans.
  • LINC brings learning opportunities onsite to our residents. Independent living skills training, debt reduction, and cooking on a budget are some of the classes that will be offered.
  • Idaho Commission for the Blind will provide individual technical support and computer setup to appropriately accommodate the blind and visually impaired.
  • World Relief will provide English as a Second Language (ESL) classes onsite.

August 7th, 2009

Treehouse Apartments opens a Neighborhood Network Center

We are pleased to announce The Grand Opening of Treehouse Apartments' Neighborhood Network Center.

Sometimes big opportunities come in small packages! The Treehouse computer learning center provides three brand new computers and a world of opportunity for our residents!

  • Job training and resume workshops
  • Computer classes
  • Microsoft Word and Excel classes
  • Typing classes
  • Building Wealth Program
  • After-school programs
  • GED preparation
  • Nutrition classes and more!

December 10th, 2008

HUD Recognition for Wylie Street Station's Network Neighborhood

Link to the article on the HUD website.

October 2nd, 2008

NWRECC/Tamarack Merger

We are pleased to announce the acquisition/merger of Northwest Real Estate Capital Corp. and Tamarack Property Management Company Headquartered in Billings Montana.

Tamarack Property Management Company has been in existence for over 20 years and is a well respected property management company operating in Montana, Utah, and Wyoming. Tamarack fee manages affordable housing, including HUD, RD and tax credit along with conventional and commercial properties.

September 26th, 2008

Wylie Street Neighborhood Network Grand Opening

Wylie Street Station opens its computer center. The largest Neighborhood Network in the State of Idaho, the computer center will have 7 computers all connected to the internet. It will be staffed with a center director to work with our residents to help them develop skills that will help them to become self-sufficient. Internet classes will also be offered at the center.

January 9th, 2008

Residents Get Financially Fit in 2008

NWRECC and Wells Fargo Launch Financial Education Programs

Residents In Alaska, Oregon and Idaho will be getting financially fit this new year, as they learn money skills they need for life through a program called "Hands on Banking" provided by Wells Fargo. This free program provides classes for Kids (4th-5th grade), Teens (6th-8th grade), Young Adults, and Adults.

The program is designed to improve knowledge of budgeting, importance of saving, bank accounts, maintaining good credit, how to be a smart shopper, how to afford a higher education, buying a home, and starting a small business . The residents will receive a certificate of completion after successfully passing each course.

While the parents are busy learning, young children are given special activity guides and coloring books. The booklet presents the first steps in introducing children to concepts related to money and finance, including needs vs. wants, and saving over a period of time. There are also activities to help young children learn to indentify currency, to commute the value of combinations of coins and to use currency to make purchases.

Senior and disabled residents are learning safety tips to avoid financial abuse, avoid identity theft, and recognize predatory lender and investment scams. Local community agencies are providing education on home care, nutrition, health and disease prevention.

Stay tuned for the schedule dates starting in late January!

January 2nd, 2008

The November 2007 Novogradac LIHTC Monthly Report featured an article detailing our Oregon Rehab project. You can read the full article in pdf format here.

July 25th, 2007

A new version of the website http://www.nwrecc.org/ has been launched. The site features a redesigned layout and color scheme, the addition of the Northwest Real Estate Capital Mission Statement, and some improved search features with Google Maps integration. In addition the relevant links have been expanded to include the AMHA organizations that NWRECC is affiliated with and also IdahoHousingSearch.com.

April 23rd, 2007

NWRECC was recently awarded a three year Resident Service Coordinator Grant for $125,148.00 for Burrell Street Station. This grant will allow NWRECC to hire a service coordinator. Our new Service Coordinator will be starting on April 30!

NWRECC is currently developing Resident Service Plans and Management Plans for the Oregon properties that are in conjunction with the OHCS LIHTC financing applications. Each plan will be different for each property focusing specifically on developing strong foundations and comprehensive strategies that address the multiple barriers our residents face and develop programs for them in order to assist in navigating their way to better opportunities and self-sufficiency.

Later this year we hope to establish our first neighborhood network center to be developed here in Boise.