Intercommunity Mercy Housing Receives Funding For Low-Income Senior Housing In Tacoma
Intercommunity Mercy Housing announced that it received a $8.2 million grant from HUD and that the funding will go toward IMH’s first affordable housing property for low-income seniors in Tacoma. Representatives from Intercommunity Mercy Housing, the city of Tacoma and the Washington State Housing Trust Fund celebrated the groundbreaking of the property this week called, New Tacoma Senior Housing. Attendees included representatives from U.S. Sen. Maria Cantwell’s and U.S. Rep. Norm Dicks’ offices, Tacoma Mayor Bill Baarsma and Tacoma Deputy Mayor Julie Anderson. The New Tacoma will have 73 apartments and will be able to participant in activities in partnership with Intercommunity Mercy Housing’s nearby family properties.
The development of New Tacoma is expected to cost about $21 million, with $17 million devoted to hard construction costs. Intercommunity Mercy Housing will seek additional funding for New Tacoma from the Washington State Housing Trust Fund, the city of Tacoma, Pierce County and other entities. Several organizations, including the Franciscan Health System and the City of Tacoma Office of Economic and Community Development, have already voiced their support for the development.
For more information on the project, click here.
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Category: Communities, Development, Finance, Independent Living, Management & Operators, Tax Credits
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