1502 21st Street, La Grande, OR 97850

Pinehurst Apartments is a 46 unit USDA Rural Development family project located in La Grande, Oregon.  

Pinehurst was built in 1978 and completely rehabilitated and recapitalized in 2008. The unit mix consists of 14 one bedroom and 32 two bedroom units.

The average income of the current households living at Pinehurst Apartments is less than 20% of the area median income and is currently less than $8,500 per year.



Sources
LIHTC Equity
$867,252
Low Income Weatherization Program
$246,337
Loan - US Bank
$1,150,000
Loan - USDA RD
$431,904
Deferred Development Fee
$63,262
Project Funds
$64,116
Total Project Costs
$2,822,871
Federal Rental Assistance Preserved
Total Original Units of Project Based Rental Assistance
8 (Section 8)
Total "New" Units of Project Based Rental Assistance
38 (RD)
Total Units of Project Based Rental Assistance Preserved
46
Total Value of Project Based Rental Assistance Over 30 Years
(for RD projects based on $4,565 and Section 8 projects based on
$5,581 per unit/per year in 2012 dollars)

$6,543,540