Bear Creek Apartments

Bear Creek Apartments are located on Main Street in Molalla, Oregon. The project is in partnership with Home First Development with a goal to bring 60 affordable family units to Clackamas County. The project will be comprised of 2 and 3 bedroom units affordable to renters earning at or below 30% and 60% of area median income (AMI). Eight of the units will have project-based rent assistance. Voucher units will benefit non-elderly persons with disabilities. The development is well-supported by the City of Molalla and local community partners.

Future residents will benefit from resident services provided by Mano A Mano, a culturally specific services organization serving the Latinx community. The project will have a planned 1,500 SF community gathering space, multiple outdoor areas and fields, bike racks and access to a creek on the property, all of which can support resident services and promote community building. The buildings will achieve green building standards comparable to Earth Advantage Gold, be larger in size and have patios or balconies that include additional storage. The project site is near the town center, providing walkable access to many amenities, including schools, grocery stores, restaurants, retail shops, and parks.

The project is financed with Local Innovation Fast Track (LIFT) funds, 4% Low Income Housing Tax Credits (LIHTC), construction and permanent debt, OHCS Multifamily Energy Program funds (OR-MEP), and 8 Project-Based Section 8 vouchers.

Location: 1000 W. Main St. Molalla, OR

Property type: Affordable Multi-Family

Land size: 3 acres

Building size: 61,000 square feet

Project cost: $18,000,000 (approx.)

Date delivered: Fall 2023 (expected)

Partners: Home First Development; Doug Circosta Architect; Oregon Housing and Community Services; Mano a Mano

Property Manager: Key Property Services, bearcreek@kpsinc.net, 888-215-2157