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®lfe Jlortlan h (fiber rucr
A p ril 9, 2014
Tax Credit for Mixed Income Apartments
Complex to offer
below market,
affordable rates
A new mixed-income housing complex at Southeast
First Street in Vancouver will consist o f 152 studio,
one, two and three-bedroom units.
Construction has begun for a new mixed-
income, multi-famly housing complex in
Vancouver thanks to US Bank and the
Vancouver Housing Authority which re
cently closed on $6.4 million of federal Low-
Income Housing Tax Credit for the nearly $30
million 1st Street Apartments project.
“We’re proud to help bring additional
community centered living options to
Vancouver’ s rapidly growing east side,” said
Malia H. Wasson, U.S. Bank president for
Oregon and Southwest Washington. “We
look forward to partnering with the Vancouver
Housing Authority on future opportunities
that make a positive difference in the lives of
Clark County residents.”
The new mixed-income, multi-family
housing complex—at the intersection of
Southeast First Street and 164th Av
enue—will consist of 152 studio, one-,
two-, and three-bedroom rental units and
offer a children’s playground, a sport court,
covered bike racks, a community garden
with gazebo, rain gardens, and a commu
ab
Av
nity clubhouse. The development is sched
uled to open May 1, 2015.
The tax credits offset the cost of the con
BIB WB
struction and will allow the housing units to
be rented at below-market, affordable rates. Authority to purchase the site three years
The Vancouver Housing Authority cur-
The City of Vancouver and Clark County ago. VHA is also contributing funds to the rently serves more than 12,000people through
provided funds for the Vancouver Housing development.
its workforce housing, special needs hous-
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ing, and subsidized housing programs for
low-income families, elderly and disabled
persons.
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