Crest Butte Apartments
1695 NE Purcell Blvd., Bend, OR 97701
Crest butte Apartments is a 52 unit USDA Rural Development family project located in Bend, Oregon.
Crest Butte was built in 1978 and completely rehabilitated and recapitalized in 2009. The unit mix consists of: 16 one bedroom and 35 two bedroom units.
The average income of the current households living at Crest Butte Apartments is less than 20% of the area median income and is currently less than $8,500 per year.
|LIHTC Equity (TCEP)||$3,825,731|
|Loan - USDA RD||$1,136,043|
|Low Income Weatherization Program||$140,342|
|Housing Development Grant Program||$100,000|
|OAHTC Loan - US Bank||$2,600,000|
|Deferred Development Fee||$0|
|Total Project Costs||$7,926,299|
|Federal Rental Assistance Preserved|
|Total Original Units of Project Based Rental Assistance||38|
|Total "New" Units of Project Based Rental Assistance||13|
|Total Units of Project Based Rental Assistance Preserved||51|
|Total Value of Project Based Rental Assistance Over 30 Years|
(for RD projects based on $4,565 per unit/per year in 2012 dollars)