The Low Income Housing Institute (LIHI) is set to commence construction on Martin Way Phase 2, a 64-unit supportive housing apartment building located at 111 Pattison Street NE in Olympia, Washington. This project is made possible by the passing of the Home Fund Levy by the community.
The property spans over 48,513 square feet and will offer a mix of studio and one-bedroom units. Encore Architects has been chosen as the architect for this project while Deacon Construction will serve as its contractor. The estimated completion date for Phase 2 is September 2024.
Funding for this development comes from various sources including Raymond James as a tax credit equity investor and JP Morgan Chase as an investor and construction lender. Other contributors include State Housing Trust Fund, Thurston County, City of Olympia, Housing Authority of Thurston County,Federal Home Loan Bank of Des Moines , The Home Depot Foundation,Banner Bank,and Washington State Housing Finance Commission .
This upcoming development aligns with LIHI’s mission to provide affordable housing options to low-income individuals in need. According to Olympia Mayor Cheryl Selby,”These types of projects are exactly what our community needs.” Stay tuned for updates on LIHI’s progress towards creating more accessible housing opportunities in Washington state.
