2210 SW 19th Street, Redmond, OR 97756

Ridgemont Apartments is a 46 unit USDA Rural Development family project located in Redmond, Oregon.  

Ridgemont was built in 1978 and completely rehabilitated and recapitalized in 2008. The unit mix consists of 18 one bedroom and 27 two bedroom units.

The average income of the current households living at Ridgemont Apartments is less than 20% of the area median income and is currently less than $9,000 per year.



Sources
LIHTC Equity
$865,514
Loan - USDA RD
$699,256
Low Income Weatherization Program
$155,264
Housing Development Grant Program
$87,500
Deferred Development Fee
$61,623
Owner Funds
$79,766
Total Project Costs
$1,948,923
Federal Rental Assistance Preserved
Total Original Units of Project Based Rental Assistance
33
Total "New" Units of Project Based Rental Assistance
12
Total Units of Project Based Rental Assistance Preserved
45
Total Value of Project Based Rental Assistance Over 30 Years
(for RD projects based on $4,565 per unit/per year in 2012 dollars)

$6,162,750