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.



Sources
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
Project Funds
$124,183
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)

$6,984,450