CORVALLIS, ORE. — The Annex Group has opened Union at Pacific Highway, an affordable housing community in Corvallis. Construction of the 174-unit community began in January 2023. Units, offered in one-, two- and three-bedroom floor plans, are reserved for individuals and households earning up to 60 percent of area median income. The property is 99 percent leased.
Project partners included Oregon Housing and Community Services; the City of Corvallis; the Linn-Benton Housing Authority; Avenue5 Residential for property management; Structure Development Advisors as the LIHTC consultant; KTGY for architecture; and DEVCO Engineering, Inc. for civil engineering. Piper Sandler placed the tax-exempt bonds, and NDC provided approximately $19 million in tax credit equity.
Union at Pacific Highway sits on approximately 7 acres and includes such amenities as a community and fitness center, playground, gardens and a dog park.