New money arrives for local affordable housing projects in Hilltop and with Habitat
New funding for affordable housing projects in Tacoma are providing a shot in the arm for Hilltop and the local Habitat for Humanity.
On Thursday city officials joined U.S. Rep. Derek Kilmer in the Hilltop neighborhood to celebrate $4.5 million in federal funding to support two projects providing affordable housing and job opportunities.
The initiatives were included in a 12-bill government funding package in which Kilmer advocated for the projects.
Of the funding, $3 million goes to the Tacoma Housing Authority’s Hilltop Housing and Commercial project to begin redeveloping three parcels of land as part of a public-private partnership. The project will provide about 200 units of affordable housing for households earning up to 60 percent AMI and approximately 20,000 square feet of commercial space for predominately BIPOC-owned businesses.
The $3 million will be used to acquire the commercial spaces and provide financial assistance to business owners to do tenant improvements, according to information from Kilmer’s office. Commercial tenants are expected to include a performing arts center and other BIPOC businesses.
Additionally, $1.5 million is going for the Hilltop Attainable Housing and Businesses Development project, which is set to provide community ownership of a mixed-use hub for culture, community, homes and businesses on the Hilltop.
That project, overseen by the nonprofit Forterra, aims to develop four buildings to include 150-175 rental units and 150-175 limited equity cooperative ownership model units, according to Kilmer’s office, with at least 50 percent of the total rental and home ownership units to be affordable.
Forterra’s “limited equity cooperative home ownership model aims to significantly lower down payments and mortgage payments for prospective homeowners next to Sound Transit’s light rail extension. In addition to the attainable housing, the project will include approximately 50,000 square feet of commercial space for community-owned businesses and local non-profits,” according to the funding announcement from Kilmer’s office.
“Building upon our momentum spurred by Sound Transit’s Hilltop Tacoma Link Extension and the City’s Links to Opportunity infrastructure projects, this federal funding will help bring much-needed affordable housing units to the Hilltop neighborhood,” Tacoma Mayor Victoria Woodards said in a statement.
MACKENZIE SCOTT GIFT
Author and philanthropist MacKenzie Scott this week gifted $436 million to Habitat for Humanity International and 84 U.S. Habitat affiliate organizations. Of that, Tacoma/Pierce County Habitat for Humanity was one of four Washington organizations receiving funding, with a one-time unrestricted gift of $4.5 million.
The local chapter called the gift “transformational.”
“In a community where the affordability gap continues to widen, we also hope this incredible investment in our community will be a coalescing factor, inspiring others to lean into the housing crisis and collaborate to make change,” the organization said in a release.
While there are no firm Habitat project spending plans announced, Tacoma/Pierce County Habitat CEO Maureen Fife said in a statement: “Our top priorities will be to increase our capacity to effectively provide lasting housing solutions and increased stability for local families and individuals.”
