Rosewood Station

Rosewood Station will provide 212 new units of affordable housing in partnership with Pedcor Investments of Carmel, Indiana. This project will consist of (6) 4-story, wood framed structures and will offer (112) 1 bed/1 bath, (92) 2 bed/2 bath and (8) 3 bed/2 bath units all affordable to residents making less than 60% of the Area Median Income (AMI). This project will also include 20 Project Based Voucher units for residents at 30% of AMI.  Completion is scheduled for late summer of 2021.

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Address 8810 SE Otty Road
Happy Valley, OR 97086 map
Eligibility requirements Must be income eligible at 60% or less of area median income. 
Move-in date April 1, 2019
Cost $66,126,453
Project financing 1. Rental Income generated during construction $2,143,851
2. Limited Partner Equity (Tax Credits) $22,580,000
3. First Mortgage (Bond Proceeds) $29,150,621
4. HOME Loan $1,050,000
5. Community Development Block Grant (CDBG) Loan $345,000
6. HACC Disposition Fund Loan $1,605,000
7. Deferred Developer Fee $9,251,981
 TOTAL $66,126,453
Contractor Delv Design Architects, LLC;
General Contractor: Pedcor Construction Management

Project Updates/Next Steps

Groundbreaking occurred on June 13, 2018. First phase will be completed in April of 2019. 

Department Staff
Angel Sully
Housing Developer


13930 Gain St Oregon City, OR 97045

Office Hours:

Monday to Thursday: 8 a.m. to 6 p.m.

After Hours Maintenance Emergency:

Maintenance (Monday - Thursday):