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.
|Loan - USDA RD||$699,256|
|Low Income Weatherization Program||$155,264|
|Housing Development Grant Program||$87,500|
|Deferred Development Fee||$61,623|
|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)