1906 Cove Avenue, La Grande, OR 97850

Cove Apartments is a 20 unit HUD Section 8 family project located in La Grande, Oregon.  

Cove was built in 1978 and completely rehabilitated and recapitalized in 2006. The unit mix consists of 4 one bedroom, 10 two bedroom, and 6 three bedroom units.

The average income of the current households living at Cove Apartments is less than 20% of the area median income and is currently less than $9,000 per year.



Sources
OHCS Risk Sharing Loan
$495,000
Low Income Weatherization Program
$43,050
Housing Development Grant Program
$142,830
Owner Funds
$89,500
Total Project Costs
$770,380
Federal Rental Assistance Preserved
Total Original Units of Project Based Rental Assistance
20
Total "New" Units of Project Based Rental Assistance
0
Total Units of Project Based Rental Assistance Preserved
20
Total Value of Project Based Rental Assistance Over 30 Years
(for Section 8 projects based on $5,581 per unit/per year in 2012 dollars)

$3,348,600