More than 1,000 rentals proposed in Bend (Prineville: apartment complexes, townhouses, construction)

[BendLocal]

More than 1,000 rentals proposed in Bend; Developers say multifamily housing worth the investment

In all, more than 1,000 units of multifamily housing, meaning apartments and townhouses destined for the rental market, are in various phases of development in Bend, according to the city Community Development Department. Some builders are in early discussions with city planners, some have building permits under review and two projects are under construction. The projects range from government-subsidized public housing to high-end market-rate apartments.

For instance, rents have risen to a point where developers can profit from building apartment complexes. Rent for a two-bedroom apartment in Bend has increased from an average $629 in 2012 to $847 this year, according to the Central Oregon Rental Association surveys. That’s a rise of nearly 35 percent. Average rent for a three-bedroom house went up more than 55 percent in the same period, from $871 to $1,354, according to survey data.

[ajams22]

Something has to be done, working class and student aged people (which is questionable about the Westside OSU location) are slowly being pushed out of Bend.

If Bend doesn't want to grow out, they gotta grow up.

[redguard57]

At last. 1000 new units will at least slow the increases or possibly stop hold them where they are. That's a pretty sizable increase. These companies wouldn't be funding these developments if they didn't think they'd pay off, which they will at current rent prices.

OPB covered this in the morning and said that more people are commuting from Prineville, etc...