Bend apartments rented before they open

Burden lifted.

That’s how Alex Escobedo and Cherie Speight, both 23, described finding an apartment to call their own. They moved into a one-bedroom unit in a brand-new, three-story building Monday. It is the first of six apartment buildings to open for occupancy at the Seasons at Farmington Reserve on Aaron Way in southeast Bend.

New tenants filled the building over the weekend; one of the 24 units serves as the leasing office. The building is at ground zero of an ongoing construction project. To the south and west, work continues on more apartment buildings. To the north, single-family homes are going up, part of the Farmington Reserve subdivision.

“We’ve done it before, so we’re used to it,” Speight said, referring to the construction. “It’s not that bad, actually.”

Seasons is the second newly constructed apartment complex to open in Bend at market rates since June 1. Boulder Pointe Apartments, at NE Warner Place and Boyd Acres Road, was first with 96 units. The new apartments helped but barely made a dent in the 0.4 percent vacancy rate in Bend for apartments in complexes 20 units or larger reported in the spring by the Central Oregon Rental Owners Association.

Two more 24-unit buildings at Seasons will open for occupancy in the next two months, said LeAnne Rich, property manager. Rents at Seasons range from $695 for a 450-square-foot one-bedroom apartment to $1,425 for a two-bedroom, two-bath unit, according to the Seasons website.

Except for a couple of one-bedroom apartments, the two buildings are already full, she said. Rich is not taking reservations yet for the remaining three buildings.

“I would have to hire someone just to do that,” she said.

The waiting list at Boulder Pointe takes up 8½ pages, with 15 names average per page, said Christopher Rardin, assistant property manager at Boulder Pointe. Rents range from $950 for a one-bedroom, one-bathroom apartment to $1,250 for a three bedroom, two bath. The complex is basically full, he said. Tenants sign monthly leases, so Rardin expects some turnover soon.

“Right now, we’re just putting people on our wait list,” he said.

The mix of tenants is made up of working folks, students, recent arrivals to Bend and those who’ve been in town but were looking for better housing. Speight and Escobedo fall into the latter category.

Students at Oregon State University Cascades Campus, the pair moved to Bend 10 months ago from Portland and until Monday lived in one room of a three-bedroom home on Foxborough Lane. They were happy to have it, but space was tight.

“It’s what we could get,” Escobedo said.

“Cramped,” Speight said.

They chased after apartment listings on Craigslist for months, always arriving too late to sign a lease.

“People were fighting over them,” Speight said.

They spotted a sign for upcoming vacancies at Seasons and put down a deposit in March, they said. Seasons, where their rent is $1,025 a month for nearly 800 square feet, is pet-friendly, and among the amenities still to come are a gym, pool and dog park, just the thing for Speight’s Shih Tzu, Sawyer.

“We like the space, so far,” Escobedo said, “but there’s tons of stuff we need to get.”

— Reporter: 541-617-7815, jditzler@bendbulletin.com


Source: BB Real Estate – topStory

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