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John Gilbert and Rob Roy of Pacific Crest Affordable Housing LLC watched as work started Friday on what will become a three-story, 78,000-square-foot building that will be home to more than 50 seniors.
The Discovery Park Lodge will be similar to the developers' Mountain Laurel Lodge along Century Drive, which opened in 2006 and still has a waiting list, Gilbert said. The success of that project helped motivate Gilbert and his partner to build the new Discovery Park Lodge, he said.
"It's very satisfying doing these projects," Gilbert said. "When we did Mountain Laurel, it was amazing how appreciative the residents were, and that wasn't something we were expecting. ... So many people said, 'Thank you,' so we're doing a project that really feels good."
Discovery Park Lodge, to be located at 2868 N.W. Crossing Drive, will be restricted to tenants 55 and older who earn 60 percent or less of the median income for Deschutes County. The U.S.
Department of Housing and Urban Development puts the 2008 median income for Deschutes County at $58,200. Accordingly, prospective Discovery Park Lodge residents would need to have annual incomes of less than $34,920.
In addition, the lodge will pay for hot and cold water and sewer and garbage; tenants pay for all other utilities. An extensive solar-powered water-heating system also is being set up to defray heating costs.
The building's architect is GGL Architecture of Bend, and the general contractor is Sunwest Builders of Redmond. Gilbert wasn't sure how many construction workers would work on the project, but estimated it would be hundreds.
"We have heard from the general [contractor] that lots of ... [subcontractors] are very happy about the project moving forward," Gilbert said.
Funding for the project was pulled together from a variety of public and private sources, Gilbert said. A big key was securing roughly $6 million in low-income-housing tax credits from the state, which Gilbert and his partner were then able to give to lenders in exchange for loans, he said. A substantial lender is National Equity Fund Inc. of Chicago, which specializes in financing for low-income housing, Gilbert said.
National Equity Fund will own the building with Pacific Crest Affordable Housing through a limited partnership.
The construction loan was provided by Wells Fargo, Gilbert added.
A total of 53 units will be open to the public, including 11 two-bedroom apartments and 42 one-bedroom units.
Each unit will have a kitchen and air conditioning. In addition, there will be many common areas for residents and an extensive outdoor courtyard between the two wings of the U-shaped building.
The project is slated to finish in late 2009 or early 2010, Gilbert said.
David Ford, the general manager of West Bend Property Co., which is developing NorthWest Crossing, said it has been a goal to include an affordable-housing project in the neighborhood.
"We've been very supportive of John and Rob's endeavor to bring affordable housing to NorthWest Crossing. It adds to the diversity that we have, which is what NorthWest Crossing has been all about," Ford said.
West Bend Property Co. is a partnership between Tennant Developments LLC and Brooks Resources Corp., both of Bend.
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