1612 7th Street, La Grande, OR 97023

La Grande Retirement Apartments is a 46 unit HUD Section 8 Senior & Disabled project located in La Grande, Oregon.  

La Grande Retirement was built in 1981 and completely rehabilitated and recapitalized in 2010. The unit mix consists of:  2 studios  and 44 one bedroom units.

The average income of the current households living at La Grande Retirement Apartments is less than 20% of the area median income and is currently less than $11,000 per year.



Sources
LIHTC Equity
$2,298,000
General Housing Account Program
$940,002
OAHTC Loan - Bank of Eastern Oregon
$1,075,000
Deferred Development Fee
$10,058
Project Funds
$289,451
Member Loan
$260,000
Total Project Costs
$4,872,511
Federal Rental Assistance Preserved
Total Original Units of Project Based Rental Assistance
45
Total "New" Units of Project Based Rental Assistance
0
Total Units of Project Based Rental Assistance Preserved
45
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)

$7,534,350