Cascade Valley Apartments - 455 W. Marquam Street, Mt. Angel, OR 97362
Montebello Apartments - 29800 SW Montebello Drive, Wilsonville, OR 97070
Spyglass Apartments - 950 SW 32nd Street, Lincoln City, OR 97367
Stratford Apartments - 585 Clay Street, Ashland, OR 97520
Willamina Villa Apartments - 320 NE 1st Street, Willamina, OR 97396

Beaver State Apartments is a 242 unit USDA Rural Development family project located in Mt. Angel, Oregon, Wilsonville, Oregon, Lincoln City, Oregon, Ashland, Oregon, and Willamina, Oregon.

 

Beaver State is comprised of five separate properties which includes Cascade Valley Apartments which was built in 1978, Montebello Apartments which was built in 1985, Spyglass Apartments, which was built in 1985, Stratford Apartments which was built in 1985, and Willamina Villa Apartments which was built in 1980. All five properties were completely rehabilitated and recapitalized in 2011.

 

The average income of the current households living at Beaver State Apartments ranges from 10% to 30% of the area median income.



Sources
LIHTC Equity
$5,117,830
OHCS Risk Sharing Loan
$9,224,000
Low Income Weatherization Program
$645,300
Loan - USDA RD
$4,975,644
Housing Preservation Funds
$10,040,298
Deferred Development Fee
$761,681
Project Funds
$941,999
Total Project Costs
$31,706,752
Federal Rental Assistance Preserved
Total Original Units of Project Based Rental Assistance
146
Total "New" Units of Project Based Rental Assistance
79
Total Units of Project Based Rental Assistance Preserved
225
Total Value of Project Based Rental Assistance Over 30 Years
(for RD projects based on $4,565 per unit/per year in 2012 dollars)

$30,813,750