Washington Park Apartments
923 Cowl Street, Milton-Freewater, OR 97862
Washington Park Apartments is a 46 unit USDA Rural Development family project located in Milton-Freewater, Oregon.
Washington Park was built in 1977 and completely rehabilitated and recapitalized in 2008. The unit mix consists of 12 one bedroom and 34 two bedroom units.
The average income of the current households living at Washington Park Apartments is less than 20% of the area median income and is currently less than $10,000 per year.
|Loan - US Bank||$1,300,000|
|Loan - USDA RD||$226,043|
|Low Income Weatherization Program||$198,000|
|Housing Development Grant Program||$165,000|
|Deferred Development Fee||$108,592|
|Total Project Costs||$2,859,775|
|Federal Rental Assistance Preserved|
|Total Original Units of Project Based Rental Assistance||35|
|Total "New" Units of Project Based Rental Assistance||10|
|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)