$800,000 from Washington State Housing Trust Fund for RiverView Apartments
The Department of Commerce recently announced the Housing Trust Fund awarded Community Action Center and its RiverView Apartments $800,000 toward construction of this critical $10.9 million Low Income Housing Tax Credit project in Pullman. Below you will find more information on the project, which will likely begin construction in early summer, 2018, with a projected opening date in summer 2019.
RiverView Apartments in Pullman
Community Action Center
The RiverView project in Pullman is a 56 unit complex that will provide affordable housing in a residential environment within walking distance of retail services, employment opportunities and public transportation.
Target population: 28 units (50%) will be rented to households with the lowest income (less than 30% of median), 27 units (48%) will be rented to households with very low income (less than 50% of median), and 1 unit will be rented to a resident manager. Priority households will include homeless families with children, people with disabilities, veterans, and large families. Services for residents with special needs will be available on site & at the Community Action offices (0.7 mile).
Resident services: The objective is to help each household improve their housing stability and overall self-sufficiency. Each household eligible to rent a unit in the complex will be invited to meet with a case manager & complete an introductory assessment of services the household may need, including ongoing case management.
Location and need: The site of the proposed project provides an attractive residential environment in the city of Pullman close to employment and service centers. Just east of the Palouse Business Center and southeast of Pullman Regional Hospital, RiverView will become a quiet, secluded community close to Pullman’s most needed services and shopping.
As reported in the 2015 Housing Needs Assessment prepared by the Affordable Housing Advisory Board, the high cost of rental housing in Pullman results in a 90% gap in housing “available and affordable” for households with very low income households (30% or less of median income) and a 77% gap for households with low income (50% of median).
Funds leveraged by Washington State Housing Trust Funds (HTF): In 2018, $800,000 was awarded to this project from the HTF, and each $1 of Housing Trust Fund investment will bring in over $10 of other funding including equity investments for tax credits, construction financing, and local document recording fee funds.