It’s hard to find a place to live in Jackson County right because the vacancy rate is below 2% and the housing authority is hoping “The Concord” apartments might relieve people who are looking for affordable housing.
The property was donated to the Jackson County Housing Authority by the City of Medford, after the two sides crafted a deal. It also involves the Cherry Creek Apartments on Spring Street.
Project developer Andrea Miranda with the housing authority says more housing is necessary in the county and says they’ve been at a 2% vacancy rate all year, “Which is historical it’s really putting a lot of pressure out there for folks looking for an affordable place to live so we’re happy to finally be moving on this project.”
Twenty apartments will be one bedroom, 30 will be two bedroom.
The total cost of the project is $8.5 million dollars. It’s being funded by the housing authority, tax credits, bank loans, and the City of Medford.
Miranda also said Cherry Creek has a waiting list of 1,000 applicants right now
and the general waiting list is at 5,000 applicants.
These apartments are expected to be finished by November 2016.
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