The Eagle’s Nest Motel is now a 15-unit apartment that the building’s new owner says may help ease a local housing crunch.

Businessman Chris Thorgesen, who has bought and redeveloped several major commercial structures downtown, said he reopened the 7,000-square foot building at 1 Mile in May with an eye toward providing low-income housing.

Ten studio apartments on the building’s ground floor share a common kitchen, living space and laundry. They rent for $450 per…