Hayden Homes' Parkside Place marks housing partnership

Hayden Homes celebrated the model home ribbon-cutting and grand opening of the new Parkside Place community in Bend, Ore., on Tuesday. 

The event, co-hosted by the Bend Chamber, marked a major milestone for housing goals in both Oregon and the city of Bend, according to a press release.

"Parkside Place is an example of what is possible for Central Oregonians when the public and private sectors work together to solve our greatest challenges," said Sen. Anthony Broadman. "The city of Bend and Hayden Homes have partnered to successfully use one of our state's first legislative housing tools to produce hundreds of deed-restricted and market-rate homes that more local wage-earners can afford."

Parkside Place is a direct result of the state’s first housing pilot project, 2016’s House Bill 4079. This successful public-private partnership offers hundreds of new market-rate and affordable housing units for rent and homeownership on Bend’s central eastside. 

The 37-acre community — with more than 300 new housing units — is located less than a mile from grocery stores, restaurants and other services. 

It offers "thoughtfully designed homes and lifestyle options designed to suit every stage of life. Homeowners will enjoy beautifully maintained common areas and a future 4-acre park, as well as HOA dues set well below those of many nearby communities," the release said.

Parkside Place represents the culmination of a multi-year collaboration between Hayden Homes, the state, and the city to create housing that Bend’s middle-income households can afford.

“At Hayden Homes, we know it’s going to take all of us to help solve our region’s housing crisis,” said Craig Smith, chief operating officer for Hayden Homes.

Following HB 4079, the state awarded Bend a pilot project allowing a one-time urban growth boundary expansion for housing development, provided that at least 30% of the homes were priced affordably for people earning 80% of the area median income (AMI) or below. 

A deed restriction is a tool to create long-lasting housing affordability by limiting the rental or sale price of a housing unit whenever it is re-released or resold. Deed restrictions are often in place for decades and can ensure that an apartment or home is available only to a household earning below a specific area median income, the release said.

At Parkside Place, Hayden Homes exceeded the required 30% of deed-restricted housing, delivering a full 40% of the community's units as affordable, including 108 rental apartment units in the first phase of development. 

All 139 affordable units in Parkside Place will be deed-restricted for 50 years and priced for households earning 80% of Deschutes County AMI or below. 

Hayden Homes has also delivered new market-rate housing that more local households can afford. Market-rate homes in Parkside Place begin at $424,990 — about $295,000 less than Bend’s median home sales price. 

According to H.U.D., this sale price is affordable for households earning 81% of the area's median income or more. At Parkside Place, more nurses, educators, healthcare workers, first responders, fixed-income retirees and other middle-income households can access attainable homeownership, the release said.

“We are committed to being a part of the solution," Smith said. "Parkside Place is a community where Bend’s hardworking individuals and families can find homeownership opportunities they can afford with local services nearby."

Hayden Homes was established in Redmond, Ore., in 1989. Hayden Homes has provided over 28,000 new homes throughout Washington, Oregon, Idaho and Montana.