(Photo by Timothy Park Photo + Video)
Redmond Economic Development, Inc. (REDI) and award sponsor Mid Oregon Credit Union announce Watson Development, Ltd. as the distinguished recipient of the 2025 REDI Thrive Award. This honor recognizes Watson Development, Ltd. and their construction partner, Simplicity by Hayden Homes, for their transformative The NOVA Apartments project, which has brought Redmond much-needed workforce housing and revitalized a downtown landmark.
Inspired by the Thoughts of Flight structure at the intersection of Highway 97 and SW Glacier Ave., the REDI Thrive Award celebrates projects that embody the spirit of resilience and growth, reflecting the adage “For every season and for every purpose, there is a time to Thrive.” Just as the structure’s cups turn with the wind, inscribed with opposing life seasons, the award acknowledges that no matter the direction of the wind, there is always a time to thrive.
The NOVA Apartments, a significant public-private partnership with Redmond’s Urban Renewal Agency, exemplifies this spirit. Originally built in 1965 as the Village Squire Motel, a once-bustling motor inn, the property had unfortunately fallen into disrepair, becoming a drain on downtown vitality and public resources.
In March 2024, Watson Development Ltd. acquired the Village Squire Motel with a vision to convert it into affordable-by-design studio apartments. The City of Redmond’s Urban Renewal Agency provided crucial support with a $75,000 SDC credit grant. The project saw Simplicity by Hayden Homes as the construction partner, with Cobalt Property Management overseeing operations.
Opening for lease in February 2025, all 24 units at The NOVA Apartments were intentionally priced to be affordable for individuals earning 80% Area Median Income without the need for additional subsidies, with rents guided by HUD/Oregon Housing and Community Services (OHCS) data for Deschutes County. By April 2025, The NOVA Apartments were fully leased, underscoring the critical demand for such housing in the community.
“Watson Development is honored to receive this year’s Thrive Award for our project transforming the Village Squire Motel into The NOVA Apartments,” said Jeff Lundin of Watson Development, Ltd. “Together with our construction partner, Simplicity by Hayden Homes, we’re proud to have collaborated with the City of Redmond to bring much-needed new housing to the downtown core. It means a lot to be recognized in our hometown, and to be helping our local workforce stay in Redmond.”
The adjudication committee faced a challenging decision amidst a strong field of contenders, including Accent Lighting, NeighborImpact’s Food Warehouse, and Bethlehem Inn Redmond Community Housing. Projects vying for the Thrive Award are rigorously matched and ranked against criteria such as:
- Implementation of economic benefit to the community (jobs, tax base, workforce development, etc.)
- Spin-off impact or “ripple effect”
- Creativity, innovation, or originality in partnerships and financing
- Achievement of stated objectives with measurable results
- Development of strong relationships and widespread community support
- Relevance and transferability of elements to other communities
REDI Director Steve Curley noted, “Now in its fourth year, the number and quality of projects submitted this year reflect the quality of organizations investing in Redmond and making it a community that continues to thrive.”
For more insights about this year’s Thrive Award winner and nominees, continue reading this REDI News article.
About Redmond Economic Development Inc. (REDI):
Redmond Economic Development, Inc. (REDI) is a private, nonprofit corporation established in 1987 as a partnership between private business and the public sector to encourage economic development in the City of Redmond, Oregon. REDI’s Mission is to create prosperity through community and business development.
