A retirement community in Gig Harbor and apartments in Tacoma are among 546 affordable homes statewide that developers and non-profit organizations will create or renovate with the help of $188 million in financing approved by the Washington State Housing Finance Commission.
In addition, the commission has launched new partnerships with Pierce County and Bremerton to provide downpayment assistance to homebuyers there, approved $5 million for a new pilot program with Habitat for Humanity of Washington State, enhanced its Beginning Farmer/Rancher program, and approved $12.4 million for nonprofit facilities in Seattle and Richland.
“Not only are we financing a large number of affordable apartments throughout western Washington, we’re also supporting homebuyers and enhancing communities,” said Karen Miller, chairwoman of the Housing Finance Commission.
In Gig Harbor, Heron’s Key, located at 4340 Borgen Blvd., will be built by a non-profit organization and is expected to include 194 independent living units, 36 assisted-living units, and 45 skilled-nursing beds.
Oak Trace Apartments, to be built at 7419 S. Verde in Tacoma by Trillium Housing Services/MacDonald Ladd Developments; will feature 58 apartments for lower-income residents in a location close to major services.