Upstairs in the "Bugge Bank Building" in downtown Coos Bay will be rehabilitated using a revitalization grant.

COOS BAY — The third floor of the “Bugge Bank Building” in downtown Coos Bay will soon have new apartments.

In a press release from the Coos Bay Downtown Association, the rehabilitation is coming out of a grant from Oregon Heritage, a division of Oregon Parks and Recreation Department. It has awarded a matching revitalization grant of $200,000 to Opportas Capital for work on the “Bugge Bank Building” located at 201 Central Ave.

A grant is helping to create more housing in the area by funding the rehabilitation of the upstairs of the "Bugge Bank Building" to turn into …

It will also provide matching funds for $450,000 to rehabilitate the upstairs, “which has been vacant for over three decades,” the release said. “Eleven studio and one-bedroom apartments are planned for the building’s upper level.”

“We are incredibly excited to reactivate the vacant space in the Bugge Bank Building,” said Robb Crocker from Opportas Capital in the release. “Our plan to create clean, stylish, loft apartments in the heart of Coos Bay will not only help to provide more housing, but will also play a role in bringing more ‘after hours’ life and commerce to the businesses downtown.”

The release pointed out that this project supports the City of Coos Bay’s objective to promote housing and encourage investment in historic downtown, while also highlighting the Coos Bay Downtown Association’s advocacy and support for local businesses.

Learn more about the Coos Bay Downtown Association at www.coosbaydowntown.org and follow it on Facebook.

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Reporter Jillian Ward can be reached at 541-269-1222, ext. 235, or by email at jillian.ward@theworldlink.com. Follow her on Twitter: @JE_Wardwriter.