This forward-thinking development is designed to meet the growing housing demand in one of Oregon’s fastest-growing markets and qualifies for a MUPTE tax exemption (more info on pages 11 and 12). The projected valuation at completion is $24 million, with an expected 5.14% capitalization rate, based on 95% stabilized occupancy, market-rate rents, and realistic operating expenses. The estimate reflects an anticipated 18–24 month construction timeline and continued improvement in market fundamentals. Penn Lofts represents a rare opportunity to invest in Bend’s sustainable, community-centered urban future.