Estacada Village Apartments - 855 NE Hill Way, Estacada, OR 97023
Firwood Village Apartments - 39501 Evans Street, Sandy, OR 97055


Timber Grove Apartments is a 72 unit USDA Rural Development family project located in Estacada, Oregon and Sandy, Oregon.

 

Timber Grove is comprised of two separate properties which includes Estacada Village Apartments which was built in 1980 and Firwood Village Apartments which was built in 1985. Both properties were completely rehabilitated and recapitalized in 2012.

 

The average income of the current households living at Timber Grove Apartments is less than 30% of the area median income.



Sources
LIHTC Equity
$7,512,212
General Housing Account Program
$70,895
Loan - US Bank
$1,675,000
Loan - USDA RD
$1,777,096
Deferred Development Fee
$0
Project Funds
$54,789
Total Project Costs
$11,089,992
Federal Rental Assistance Preserved
Total Original Units of Project Based Rental Assistance
46
Total "New" Units of Project Based Rental Assistance
0
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 per unit/per year in 2012 dollars)

$6,299,700