LENTS HOMEOWNERSHIP INITIATIVE

Draft Goals 6/04

Everyone loves homeownership because it helps families build wealth and stabilizes neighborhoods. Despite record low interest rates the homeownership rate in Lents has declined from about 75% to 50% in the last 40 years. A steering committee made up of residents, nonprofits, mortgage lenders, realtors and government organizations is working to turn that trend around in the Lents Town Center Urban Renewal Area.

The Lents Homeownership Initiative grew out of Lents/Brentwood-Darlington Weed & Seed, an organization that combines public safety and community development. Weed & Seed saw the opportunity to fix problem properties and make them available to homebuyers. The Initiative aims to increase homeownership in Lents Urban Renewal Area

"The area has so much to offer!" says Lents/Brentwood-Darlington Weed & Seed Site Coordinator Sharon White. "Housing is still affordable compared with other Portland neighborhoods. There are financial incentives to support homebuyers interested in purchasing in Lents. Residents have access to the Springwater Corridor Trail, the Leach Botanical Garden, Beggars Tick, Zenger Farm and other wonderful areas. MAX is coming. Lents Urban Renewal is bringing millions of dollars to the community, as well."

During the past year more than 20 organizations have worked together to develop an action plan that includes homeownership programs, marketing, neighborhood improvements and support for existing homeowners. The goal for the first year is to help 50 new families become homeowners.

For more information about homeownership in Lents, contact Nick Sauvie at ROSE Community Development, 503-788-8052.

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