Celebrating the Financial Closing of The Myrtlewood Apartments in Oregon
Congratulations to St. Vincent de Paul of Lane County (SVDP) on the recent closing of The Myrtlewood Apartments in Springfield, Oregon. With this new development, SVDP will create 35 affordable homes for families and developmentally disabled tenants in a four-story mid-rise building. The project is well located near Springfield’s central business district, within walking distance to public transportation and services.
Wells Fargo is providing $4.6 million of construction financing. Permanent financing includes $600,000 of HOME funds from the City of Eugene and $400,000 from SVDP. Enterprise will provide $6.4 million of equity.