National Equity Fund

Canal Commons Set to Provide Affordable Housing Options in High Rent Resort Town

Canal Commons Phase 1
October 26, 2021

Download the press release.

On October 14, developer Pacific Crest Affordable Housing (PCAH) celebrated a joint grand opening and groundbreaking for phases I and II of Canal Commons. Canal Commons is an apartment community in Bend, Oregon, with 48 units already in service and another 48 on the way through the second phase of development. Apartments consist of a mix of one-, two- and three-bedrooms for families and workforce households with rents set at 30-53 percent of AMI. Both phases are syndicated by NEF, with First Interstate Bank serving as the investor.

Canal Commons is located in Bend’s northeast quadrant with inspiring views of the Cascade Mountains, the adjacent canal, and close proximity to the 127 acre Pine Nursery public park. Residents also enjoy easy access to schools, parks and various shops and services. The development includes two 24-unit residential buildings (with two more to be constructed) and a community building. Each residential building includes a laundry room, and the community building includes a manager’s office, a community room with a warming kitchen, internet stations with free internet access, a meeting room and fitness equipment. The property also includes an outdoor patio area, a playground and raised bed gardens available for residents who wish to use them.

Consistent with PCAH’s other properties, Canal Commons is a great example of energy-efficient design and construction. Canal Commons includes super high-efficiency air source heating/cooling, Energy Recovery Ventilation for all units, solar-generated electricity and solar-heated water for the whole building (including all apartments), triple pane equivalent windows, dual flush toilets and drought tolerant landscaping. Combining solar energy and energy net efficiency measures reduces Canal Commons’ energy consumption by 75-80 percent from Oregon’s code minimum. With a combination of ecologically considerate design and thoughtfully implemented amenities, Canal Commons provides quality housing to its residents, and the construction of Phase II will expand the amount of community members able to take advantage of PHAC’s excellent development.

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