Redmond leaders and community members attended a ribbon-cutting ceremony on Jan. 21 to introduce a new apartment complex in the downtown area. The NOVA Apartments, situated on Redmond’s Fifth Street, will support the city’s ongoing revitalization efforts of the downtown neighborhood.
Formerly known as the Village Squire Motel, the building was converted to studio apartments, offering 24 units with amenities including small kitchens, on-site laundry, security and a gym. The units will be priced to prioritize livability and affordability for Redmond’s local workforce.
According to Jeff Lundin with Watson Development, the construction company that worked on the building, all units will be priced intentionally so that those earning 80% of the area’s median income can afford the units. Rent prices, he said, will be informed by data provided by the Department of Housing and Urban Development (HUD) and Oregon Housing and Community Services.
“We are very thankful for this public-private partnership with the City’s support, including $75,000 from city urban renewal in SDC credits,” said Lundin. “We want to thank our construction partners, Simplicity by Hayden Homes, for having the vision in less than a year to turn this former motel site into these apartments that we see.”
Cobalt Property Management said it will be welcoming 24 residents into the apartments in just a couple of weeks.
“For young people getting started and working, these are perfect,” Redmond Mayor Ed Fitch told the Source Weekly. “You can go anywhere downtown very easily, and the parking, it’s just fantastic for a young person, single person, getting their feet wet and saving some money.”
According to Fitch, the City of Redmond had been looking at this location for a couple of years now, in terms of how it could be renovated. About a year ago, Hayden Homes showed interest in the property, leading to its partnership with the City on this project.
“I want to thank Hayden Homes Simplicity and all the other organizations under that umbrella for what they did here,” Fitch said. “It just shows what a community can do to come together to build a great product for people who need it.”
This article appears in The Source Weekly January 23, 2025.
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