Construction crews are breaking ground for a new apartment complex on the Central Oregon Community College campus on Bend’s west side.
The Veridian apartment complex is located between Shevlin Park Road and Central Oregon Community College.
It will consist of 19 three-story buildings which will house 186 one-, two- and three-bedroom apartments.
“The Veridian is going to have a clubhouse with a pool, hot tub, work from home study areas inside the clubhouse that residents can rent, and a conference room,” said Laura Robinson, project manager for Neighborly Development. “Also a dog park on site.”
The Veridian apartments are not student housing, even though they are being built on college land.
They‘ll rent from $1,700 to $2,800 per month depending on size of the units.
Central Oregon Community College is leasing the 9-acre site to the developer in exchange for annual $230,000 lease payments.
“The COCC Board of Directors and real estate committee is charged with finding resilient and inflation-resistant revenue streams,” said Jenn Kovitz, COCC Marketing Director. “The Bend campus has over 200 acres, many of which are vacant and represent an opportunity to have a consistent revenue stream.”
Kovitz says the annual lease payments from the apartment complex will be invested into the college’s mission of providing educational opportunities for the community.
The Veridian apartments are designed to compliment COCC’s Cascade Culinary Institute and incorporate into the neighboring community.
The project will include 348 parking spaces, exceeding the City of Bend’s required number of parking spaces by more than 26 percent.
The project will retain 89 mature trees and will plant an additional 220 trees to replace those that must be removed during development.
Construction is beginning with excavation for in-ground utilities.
By the fall of 2023, some of the apartment units will be available for lease, according to the developer.
Click here for information about renting in the new apartment complex.