Chrisman Development Closes Financing for Wildflower Apartments Affordable Housing Project

Affordable Housing Tile

We would like to congratulate client Chrisman Development for closing the financing for the company’s Wildflower Apartments, a new-construction affordable housing project in Pendleton, Oregon. The city had bought the land and then sold it to our client for the purpose of replacing housing lost in a flood.

Chrisman is a leader in the development of affordable multifamily housing projects, with a specific focus on preserving and renewing the affordability of federally subsidized affordable housing projects that are in need of renovation and at risk of conversion to market-rate rents. .

A Stoel Rives team assisted in obtaining the project financing, which included 4% low-income housing tax credits, tax-exempt and taxable bonds, and a grant from the State of Oregon. The team was led by Real Estate, Development & Construction PGL Joe McCarthy and included attorneys Kate Mathews, Scott Rosenthal and Adam Schurle; and paralegal Marrji Padden.

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Jamie Moss (newsPRos)
Media Relations
w. 201.493.1027 c. 201.788.0142

Mac Borkgren
Senior Manager, Marketing Communications & Operations

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