When Queen Anne Apartments opened a couple of weeks ago, tenants for 40 percent of the units were ready to move in.

The complex at 142 Elmore St. consists of 98 one-bedroom, two-bedroom and three-bedroom units.

Rents are:

• $555 for the 729 square-foot one-bedroom, one-bath units.

• $661 for the 956 square-foot two-bedroom, two-bath units.

• $750 for the 1,576 square-foot three bedroom, two and one-half bath units.

All units have utility rooms furnished with washers and dryers, a private patio and a media center alcove in the great room. Third story units have vaulted ceilings.

Communal spaces include a 924 square-foot office/community room with full kitchen and a 540 square-foot furnished fitness center.

Two outdoor recreation facilities are available to residents: a sand volleyball court and a children's play structure.

The project was built by Slayden Construction of Stayton for sale to Guardian Affordable Housing Development, LLC, a division of Guardian Management of Portland, for $12.2 million. It was financed with tax-exempt bonds issued through Oregon Housing and Community Services and Low Income Housing Tax Credits. Construction began July 2007.

The complex operates under the name of Queen Anne Apartments LLC. It is named after Queen Anne Park Elementary School, which was built in 1930 and was not used by the school district after 2002, though it housed Kidco's Head Start program for a few years. The school was named after Anna Mayer, whose husband Joel donated the property for the school.

Dan Steffey, Guardian's Vice President of Development said the connection between Slayden and Guardian was unique in that they collaborated to complete the project so it would comply with the standards of the Low Income Housing Tax Credit program administered by Oregon Housing and Community Services (OHCS). On its website, OHCS is described as the state of Oregon's housing finance agency.

Steffey said Guardian chose to work with Slayden because the contractor had demonstrated it could build a quality product at an attractive price.

Guardian Management, founded in 1971 and headquartered in Portland specializes in multifamily housing investments and property management services. It manages 170 properties in seven western states. It is a privately-held limited liability corporation.

Note: This is a corrected version of the story which ran in the Aug. 20, 2008 print edition of the Lebanon Express. This version reflects the correct rental fees for the complex. The Lebanon Express regrets the error.