The Dalles URA Approves Basalt Commons Project & Funding

The Columbia Gateway Urban Renewal Agency Board approved a vertical housing project that will be one of the largest public investments in the history of The Dalles.  The Basalt Commons project will be located on the former Griffith Motors auto sales lot at 523 East Third Street, which was purchased by Hanlon Development in 2017.  The existing building will be demolished. Basalt Commons will comprise of 108 apartments in a mix of studio, one-bedroom and two-bedroom units, while the five-story building will have ground floor commercial space.  Urban Renewal will be contributing as much as $1.73 million to the project, including direct payments to the City of The Dalles and Northern Wasco Parks and Recreation toward System Development Charges specific to the multi-unit residential aspect of the project via an Urban Renewal incentive program that encourages upper-story residential projects.  A separate direct contribution of $730,000 will help offset construction costs.  In addition, Basalt Commons is eligible for Vertical Housing Zone tax credits, providing a 10-year tax abatement of up to 80 percent for the property.  Urban Renewal anticipates recouping its investment in 13 years.  The 18-month construction period is anticipated to begin as early as summer 2024.

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