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~''" T~ <br />~ ~' elmont <br />~ <br />~'~~, D A I R Y <br />FACT SHEET <br />PROJECT DESCRIPTION: <br />• 66 low-income (Section 42) apartments ($528/mo. one bedroom; $632/mo <br />bedroom) <br />• 19 market rate loft apartments ($800-$1,395/mo.) <br />• 26,000 SF commercial space <br />• Anchor Tenant: Zupan's Markets (Specialty Grocery Store); Small Shops: <br />Dreams (Cards & Gifts), Propaganda Hair Salon, Sweetwaters Jam House <br />(Caribbean Restaurant) <br />• 62 enclosed parking spaces; 28 adjacent, secured parking spaces <br />FINANCING: <br />Permanent Financinq: <br />• Network for Oregon Affordable Housing Permanent Loan ($4,600,000) <br />• City of Portland Livable City Housing Council Loan ($600,000) <br />• City of Portland Community Development Block Grant Loan ($750,000) <br />• State of Oregon Transit-Oriented Development Loans ($300,000) <br />Low Income Housing Tax Credits/Bridqe Financing: <br />• FNMA Tax Credit Investment ($8.0 Million) <br />• City of Portland Multifamily Housing Tax Credit Bonds ($7,200,000) <br />PROJECT STATUS: <br />two <br />Urban <br />• Project is currently fully leased and operating at 98% occupancy for 1998 (YTD); <br />performed at 99.6% occupancy for 1997 <br />• Grocery store performing at in excess or $400/SF/YR; sales up 130% from previous <br />year <br />DEVELOPMENT TEAM: <br />Owner: <br />General Partner/Developer: <br />Project Manager: <br />Contractor: <br />Architect/lnterior Designer <br />Structural/Civil Engineer: <br />Landscape Architect: <br />Belmont Limited Partnership <br />Belmont Dairy, LLC <br />Shiels Obletz Johnsen, LLC <br />Walsh Construction Company <br />GBD Architects, Inc. <br />KPFF Consulting Engineers, Inc. <br />Walker & Macy <br />12/15/98 <br />