In less than a year, the derelict former Village Squire Motel has been reborn as NOVA Apartments.

The housing project both removed a major eyesore in Redmond’s downtown district and replaced it with 24 studio apartments priced for people making about 80 percent of median income. Tenants are expected to start moving in next month.

Representatives from Watson Development, the city of Redmond and its Urban Renewal district staff were on hand Jan. 21 to cut the ribbon and lead tours of the project, located at 629 SW 5th Ave.

“Housing availability determines the kinds of businesses and jobs we can sustain in our community,” said Chuck Arnold, the city’s economic development and urban renewal program manager. “Projects like the NOVA Apartments will help Redmond employers attract and retain talent.”

The city Urban Renewal Agency gave $75,000 in SDC credits to the NOVA Apartments project.

The Village Squire was built in 1965 and served as motel for decades, but fell into neglect in recent years. Police were frequently called the location and drugs and crime were rampant. In 2023 the motel closed and was sold to local businessmen, who could not get redevelopment off the ground. Hayden Homes’ Watson Development took the project on in March 2024.

The final redevelopment included full revamps of each room, bundled utilities, site-wide high-speed wireless internet, a shared common area with full kitchen and television, on-site fitness center and laundry facilities, fob access, security cameras, outdoor lighting and more. Cobalt Property Management will operate the facility.

Jeff Lundin of Watson Development, Redmond Mayor Ed Fitch, and Ryan Jennings, president of Simplicity by Hayden Homes offered brief remarks to commemorate the project and its connection to the city’s broader Downtown Urban Renewal initiative.

Hayden Watson is the Principal of Watson Development and chairman of the Redmond-based Hayden Homes and Simplicity by Hayden Homes. Simplicity by Hayden Homes was the construction partner for the NOVA Apartments, while Cobalt Property Management will operate the property.

“My dad was a staunch believer that jobs were key to building a strong community,” said Hayden Watson, whose parents Bob and Virginia started Hayden Homes 35 years ago. “Redmond’s our hometown, and that is why this project was an opportunity to reinvest in downtown and support the city that has been so good to me and my family.”

Redmond Mayor Ed Fitch cut the ribbon on Jan. 21. He said that he had a long history with both the property and Hayden Homes, being friends with the motel’s owners and helping draw up the paperwork to create the company. He said increasing affordable housing in Redmond remains a top priority for the council.