Housing Works announces the funding of Eastlake Village II, an affordable apartment community that will be located on Bend’s eastside. The development will be the second phase of Eastlake Village and will provide an additional 40 units of highly desirable apartments on a 2.64 acre parcel across the street from phase I, which is located on 27th street by the Forum shopping center.
With vacancy rates below 1 percent and rents rising, the need for affordable housing is greater than ever. “We have people in our community calling every day asking for help in finding a place to live,” said Tom Kemper, Housing Works executive director. “Housing Works has been working to get this project funded for the past three years and we are ecstatic to be able to respond to the needs of our community. Eastlake Village II will provide a home where individuals and families with low incomes can thrive.”
The design for Eastlake Village II mirrors the highly desirable and award-winning design of phase I and will offer one, two, and three bedroom unit configurations. Residents will enjoy expansive decks, private entries, windows that provide exceptional natural light and desirable interior amenities. As an affordable property, income restrictions will apply and rents will be well below market rates.
Construction is expected to begin by the end of the year, bringing over $6 million dollars into our community and numerous job opportunities. Build time is expected to be 9-10 months which means preleasing will begin in about a year.
Housing Works is the largest affordable housing provider in Central Oregon. It provides people with quality, safe and affordable homes; and through a number of collaborations, it provides the resources to help people stabilize their lives. Housing Works obtains public funding from federal, state and local governments and leverages these funds with private capital from local financial institutions and foundations to provide quality housing that meets communities’ needs.
Housing Works developments in Bend, Redmond, Prineville, Madras and Sisters have won awards for innovation, economic impact, design, beautification, and historic preservation and enhancement. www.housing-works.org.
