The developer of Putnam Pointe, an affordable-housing project in downtown Bend, will hold a lottery Feb. 21 to determine who gets to buy the building’s 11 condominiums.

Central Oregon’s affordable-housing developer will hold a lottery next month to determine who gets the chance to buy one of 11 top-floor condominiums with views of the Cascades, underground parking and downtown living.

The Feb. 21 lottery is being held to provide a fair process for what’s expected to be high demand for condominiums at Putnam Pointe, the city’s $13 million downtown affordable-housing project, said Keith Wooden, director of joint ventures at Redmond-based Housing Works, which developed the project and is an owner and operator.

The project, which also has apartments for rent, is under construction near the Centennial Parking Plaza and is expected to be ready for occupancy by the end of April, Wooden said.

Building features include an open-air, interior courtyard and underground parking. Access to the garage will be through the city’s garage, Wooden said.

“It is downtown living with a parking spot starting at $178,000,” Wooden said of the condos. “That price point grabs a lot of people.”

Prices will range between $178,500 for a 595-square-foot condo to $265,000 for a 1,023-square-foot unit, according to the development’s Web site, www.putnam lofts.com.

Lottery participants will each get three tokens to enter the lottery, which they can use to bid on one unit or up to three separate units, Wooden said.

About 50 people have expressed interest in the condo lottery, which requires purchasers to meet standards on maximum income and make the condo their primary residence, Wooden said.

The maximum income is $70,000, or 120 percent of Deschutes County’s median family income of $58,800, Wooden said. The maximum income is the same for a family, an individual or couple, he said.

Buyers are not allowed to buy the property and flip it, unless they sell it to someone who meets the same requirements, said Kim Manie-Oskoii, the director of supportive housing and resident services for Housing Works, which is the region’s affordable-housing advocate.

“Who wouldn’t be interested in living in a condo with top-floor views of the Cascades in a location where you can live and work?” Manie-Oskoii said. “It is an epic location.”

The five-story Putnam Pointe also will feature an 8,000-square-foot retail space on the first floor and 33 affordable apartment units on the second through the fourth floors, Manie-Oskoii said.

The apartments are subject to more stringent income requirements because they were funded by a federal low-income tax credit program that is doled out by the state’s Housing and Community Services Department, she said.

Monthly rents for the one- and two-bedroom apartments will range in price from $437 to $601 and will be handled by Wilsonville-based Cascade Management Inc., a firm specializing in management of affordable housing that has an office in Bend, said Jon Klein, the company’s regional portfolio manager.

Each of the units will come equipped with a washer and dryer, and 22 of the spaces will have access to underground parking.

“The goal was to do a project that doesn’t even look like affordable housing,” Klein said of Housing Works and its co-developer, Portland-based KemperCo LLC. “I think they have succeeded here.”

The company, which has received about 120 letters of interest from prospective tenants, will mail out applications on about Feb. 22 and the first 33 respondents who qualify will be awarded an apartment lease, Klein said.

“We have to follow a very set protocol as far as who gets in,” Klein said. “We have a long list.”

Maximum income qualifications for apartment renters vary depending on which apartment a person chooses and how many people are living in the apartment, but generally renters cannot make more than 50 percent to 60 percent of the county’s median family income, Klein said.

The project is funded by various sources, including: the Salem-based Housing and Community Services Department, Bank of the Cascades, the city of Bend’s Urban Renewal Agency, the Hayden Giving Fund, Housing Works and KemperCo, according to Housing Works.

It was renamed from Lava Court to Putnam Pointe to honor George P. Putnam, the son of a prominent New York publishing family, who was mayor of Bend in 1912 and 1913 and the publisher and editor of The Bulletin.

After he left Bend, Putnam achieved lasting fame as promoter and husband of Amelia Earhart, the famed pilot who died in 1937 attempting to circumnavigate the globe.

The Feb. 21 lottery will be held at 1 p.m. at First Baptist Church, 60 N.W. Oregon Ave., across from the Putnam Pointe development.

Anyone who meets the requirements can submit their tokens between 9 a.m. and noon on Feb. 21, according to Housing Works.

For more information on condo sales or apartment rentals, visit www.putnamlofts.com or call Housing Works at 541-323-7404.