Located in the Willamette Landing Neighborhood of South Corvallis, The Rivergreen Apartments is a 60-unit development that will have a mix of 1, 2 and 3-bedroom family units affordable to serve renters earning at or below 60% of Area Median Income (AMI).
Rivergreen Apartments will have a significant amount of outdoor area and a planned 2000sf community room. Unit amenities will include air conditioning, washer/dryers, balcony/patios and storage units. The buildings will achieve green building standards comparable to Earth Advantage Gold. In Benton County, there is an urgent need for an additional 4,590 affordable units many of which are needed to help address Corvallis’s affordable housing shortage.
The development is strengthened by significant community support and input from a diverse group of partners and stakeholders including the City of Corvallis, Casa Latinos Unidos, NAACP, Corvallis School District, League of Women Voters, and Boys & Girls Club, Corvallis School District, and Linn Benton Housing Authority. What results is thoughtful design input, tenant referral, and culturally specific resident services from experienced local community organizations that ultimately benefit future residents.
The project is financed with Local Innovation Fast Track (LIFT) funds, 4% Low Income Housing Tax Credits (LIHTC), City of Corvallis CET funds, construction and permanent debt.