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Housing Works To Sell Revenue Bonds For Multi-Family Apartment Project

REDMOND, OR  -- Deschutes County Commissioners have approved the sale of 7-point-5-million dollars of revenue bonds by Housing Works. The bond money will be used for a new 47-unit, multi-family apartment complex in Redmond called Midtown Place. The Executive Director of Housing Works, David Brandt says rents range from the high seven hundreds for a one-bedroom to 13-hundred for a 3 bedroom. He says Housing Works bought the land from urban renewal for 650-thousand dollars. Brandt says they received a 450-thousand-dollar Community Development Block Grant from the city of Redmond and then used Housing Works reserves for the 200-thousand dollar balance. Construction will start this fall and finish in about a year.

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