START OF CONSTRUCTION CELEBRATION FOR NEW TACOMA II SENIOR APARTMENTS IN TACOMA
SEATTLE, WA – March 23, 2015 – (RealEstateRama) — Mercy Housing Northwest is celebrating the construction start of its newest affordable housing community, New Tacoma II Senior Apartments, on Wednesday, February 25, 2015 4:00 p.m. – 5:30 p.m., with a speakers program and a musical performance by seniors living in the first phase of New Tacoma Senior Apartments.
New Tacoma II Senior Apartments will add an additional 40-unit, service-enriched senior housing apartments to Tacoma’s Hilltop neighborhood. New Tacoma II will combine accessible, energy efficient design with resident services programming to ensure that the elderly residents can age in place with dignity and independence. Case management will be provided to 8 units that are set aside to serve formerly homeless senior residents. New Tacoma II will be constructed adjacent to and integrated with MHNW’s New Tacoma I Senior Apartments, a 75-unit project that opened in April 2011. The two phases will join together through common corridors, share extensive community facilities and operate as one seamless community. Union Bank is providing construction financing and equity for the project.
“Union Bank is proud to invest in phase two of New Tacoma Apartments to provide new and quality affordable housing for seniors in the Hilltop neighborhood of Tacoma,” said Union Bank Community Development Finance Vice President Bryan Friend. “It is gratifying to partner with Mercy Housing Northwest on its mission of developing accessible rental homes along with providing resident services that are making a real difference and building stable communities. This represents our 4th partnership together.”
New Tacoma II will be located in close proximity to three other MHNW developments, extending our deep commitment to the community’s evolution and stability.
“There is a large unmet need in this community for affordable senior housing,” stated Mercy Housing Northwest President Bill Rumpf. “MHNW has been helping create a safe and affordable community in the Tacoma Hilltop and we’re please to move forward with this second phase of construction at New Tacoma Apartments.”
Rents range from $376 to $628 a month. Units will be available to seniors earning $14,000 to $26,800 a year.
The public funders for the development include the City of Tacoma Community Redevelopment Authority, Pierce County Community Connections, the Washington State Housing Trust Fund and the Washington State Housing Finance Commission. The project was designed by SMR Architects and Walsh Construction Company will serve as the general contractor. New Tacoma II leasing will begin in fall 2015 and occupancy is expected to begin in December 2015.
Contact Paul Chiocco (206) 602-3490
pchiocco (at) mercyhousing (dot) org
