Rumor of a Hazel Dell eviction was just that

first_imgA rumor about a Hazel Dell apartment complex evicting all its tenants in a Courtyard Village-esque scenario sounded plausible and spread online — but it turned out to be untrue.What’s more, the rumor involved an unlikely target: A Vancouver-based property management company trying to make a dent in the affordable housing crisis.Westwynd Apartment Homes at 10117 N.E. Ninth Ave. was sold in February 2016 to Christensen Properties LLC for $13.6 million. It was formerly Crown Plaza and had a “pretty tough reputation,” according to an email from Richard Gress, CEO and executive vice president of RealVest Corporation, the company managing Westwynd. Businessman and philanthropist Paul Christensen owns RealVest. Kathy Maynard and Mike Maynard own Westwynd.Gress said the complex was financed through the U.S. Department of Housing and Urban Development (HUD). To get the loan, a comprehensive inspection was required and certain repairs had to be made, while other repairs could be made within the first 12 months. Those requirements include completely renovating 90 of the 120 units at Westwynd, which are set to be finished by April 30.Rents are being raised about $50 for renovated units. Current rent at Westwynd is below fair-market rent. A one-bedroom apartment is $950 to $995, and a two-bedroom unit is $1,095.last_img

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