Kaiser Trio

ALBANY AND CORVALLIS, OREGON

Goal: Rehabilitate three properties and expand amenities and programming to foster a sense of community and pride of place for residents.

The Kaiser project entails the acquisition and rehabilitation of an existing HUD-assisted portfolio of three properties located in Albany and Corvallis, Oregon. The apartments, currently known as Hillhouse, Santiam Terrace, and Walnut Court, were built between 1970-1973 as HUD projects and comprise a total of 120 units in 27 buildings on a combined 5.44 acres.

The rehab will improve energy efficiency and address major capital items in order to preserve this important housing asset for its remaining life under the HUD assisted housing program. The landscaping will be partially replaced with native plants that attract pollinators as well as perennial edible fruit bushes and trees. Common area amenities and programming will be expanded to promote community and a high quality of life for residents.

DEVELOPMENT

The project financing includes tax exempt bonds issued by the Oregon Housing and Community Services Department (OHCS) and equity from the sale of non-competitive 4% Low Income Housing Tax Credits. The project also entails Low Income Weatherization funds.

DATA
  • Completion Date: 2018
  • Total Development Cost: $16.3M
  • Affordability: 60% AMI
  • Total Units: 120
  • Unit Mix: 40 0BD, 48 1BD, 8 2BD, 16 3BD, 5 4BD, 3 5BD
TEAM
  • Developer: CDP
  • Architect: Waechter Architecture
  • Contractor: LMC Construction
  • Property Management: Cascade
  • Resident Services Partner: Cornerstone Community Housing
WEBSITES

PARTNERS

CDP is proud to partner with these organizations, dedicated to bettering the lives not only of Kaiser Trio’s residents, but of those lower-income residents in surrounding communities.

Cornerstone Community Housing (CCH)

Since 1992, Cornerstone Community Housing (CCH) has been dedicated to providing quality, affordable housing for those with limited incomes, while offering services that foster personal growth and economic independence. Their mission is to build vibrant communities where every choice— from home layouts to communal spaces and safety features—centers on the needs of families. By fostering stability, CCH enables families to improve their lives through comprehensive resident services, including cooking classes, health coaching, budgeting workshops, and homework clubs.