Washington County Proposes Purchase & Sale Agreement to Preserve Woodspring’s Affordability

After two years of discussions with the current Woodspring’s property owner, the Housing Authority of Washington County (HAWC) has received authorization at a March 14, 2023, Housing Authority Board of Directors’ meeting for the executive director to negotiate and enter into a purchase and sale agreement. This enables the Housing Authority to pursue the necessary property and financial due diligence to purchase Woodspring, preserving the property’s affordability rates for all current residents. The Housing Authority has currently made an offer that meets industry standards and fair market value for the property.

“Washington County is making every effort to secure Woodspring’s affordability, including having the Housing Authority partner with Oregon Housing and Community Services to secure the legal and financial requirements for potential purchase. Preservation of affordable housing is a critical part of our strategy as we tackle this important community need,” shared County Chair Kathryn Harrington. Washington County’s Department of Housing Services and Oregon Housing and Community Services have been working closely with Woodspring’s tenants in light of the expiring affordability protections with the launch of the “Short-Term Assistance for Tenants with Expiring Affordability” program last month.

Located at SW 113th Ave, Tigard, OR, Woodspring Apartments is a 172-unit complex built in 1991. It was originally built with Low Income Housing Tax Credits and regulated as affordable housing with a 30-year period of affordability, which ended on December 31, 2020. Households who were living at Woodspring at the time the affordability period ended continue to have affordable rents for three years as a part of a "safe harbor” provision. After the safe harbor period ends, the owner can transition the property to market rents, though rent increases must be within the parameters of Oregon State Law.

For more information on Woodspring, please visit the County’s dedicated webpage.

ABOUT HOUSING AUTHORITY OF WASHINGTON COUNTY: The Housing Authority of Washington County has been providing and developing affordable housing opportunities for over 50 years. Today, the effort continues with the county’s Department of Housing Services, formed in 1992 to administer both its housing activities and programs and that of Washington County. Its mission is to provide a continuum of affordable housing options that promote community strength.