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.



Sources
LIHTC Equity
$795,049
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
Project Funds
$67,091
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)

$6,162,750