Madison Apartments - 950 SW Madison, Madras, OR 97741
Willow Creek Apartments - 1220 N Oak Street, Madras, OR 97741
Wintergreen Apartments - 2050 SW Timber Avenue, Redmond, OR 97756

Crooked River Apartments is a 94 unit USDA Rural Development family project located in Madras, Oregon and Redmond, Oregon.

Crooked River is comprised of three separate properties which includes Madison Apartments which was built in 1993, Willow Creek Apartments, which was built in 1989, and Wintergreen Apartments which was built in 1990. All three properties were completely rehabilitated and recapitalized in 2014.

The average income of the current households living at Crooked River Apartments is less than 20% of the area median income.



Sources
LIHTC Equity
$2,579,890
Weatherization Programs
$174,844
Loan - Housing Preservation Fund
$4,650,005
Loan - USDA RD
$2,404,713
Project Funds
$155,619
Total Project Costs
$9,965,071
Federal Rental Assistance Preserved
Total Original Units of Project Based Rental Assistance
79
Total "New" Units of Project Based Rental Assistance
15
Total Units of Project Based Rental Assistance Preserved
94
Total Value of Project Based Rental Assistance Over 30 Years
(for RD projects based on $4,565 per unit/per year in 2012 dollars)

$12,873,300