Apartment building plans seek approval in Beaverton
Approval of a design for a new multifamily development in Beaverton is being requested by BRIDGE Housing Corp.
The development will be four stories in height and have 75 affordable apartment units in the South Cooper Mountain area of the city at Goldcrest Lane and Southwest 1172nd Avenue. Approval of the design by the planning commission of the city will enable the company to acquire the necessary permits so it can begin construction.
A project manager with BRIDGE, Ben Sturtz, expressed his optimism that the commission will sign off on the plans. Sturtz said that the meeting with the neighborhood went well and the company is working on some changes to colors and materials and some other features that will be more amenable to current residents. Flyer printing is often used by such companies to outline its plans and highlights of such developments.
A $400,000 cashflow-dependent loan has been approved by the Beaverton City Council for the project. The loan will need to be paid back only if BRIDGE collects sufficient funds from renting the units to cover the cost of operating expenses. Money from the county’s share of the Metro affordable housing bond measure, which is $8.7 million, will also be going to pay for the project.
The planning commission is planning to hold a public hearing to reviews the design approval request by BRIDGE on Wednesday May 26.
The development will be four stories in height and have 75 affordable apartment units in the South Cooper Mountain area of the city at Goldcrest Lane and Southwest 1172nd Avenue. Approval of the design by the planning commission of the city will enable the company to acquire the necessary permits so it can begin construction.
A project manager with BRIDGE, Ben Sturtz, expressed his optimism that the commission will sign off on the plans. Sturtz said that the meeting with the neighborhood went well and the company is working on some changes to colors and materials and some other features that will be more amenable to current residents. Flyer printing is often used by such companies to outline its plans and highlights of such developments.
A $400,000 cashflow-dependent loan has been approved by the Beaverton City Council for the project. The loan will need to be paid back only if BRIDGE collects sufficient funds from renting the units to cover the cost of operating expenses. Money from the county’s share of the Metro affordable housing bond measure, which is $8.7 million, will also be going to pay for the project.
The planning commission is planning to hold a public hearing to reviews the design approval request by BRIDGE on Wednesday May 26.