The Tacoma Housing Authority (THA) will host a ribbon-cutting ceremony for its largest affordable housing project in twenty years, Housing Hilltop, on August 3. The two-building affordable housing development will have a total of 231 units and 103 parking stalls once complete.

Housing Hilltop consists of two buildings: Housing Hilltop South which is currently leasing 94 affordable housing units, and Housing Hilltop North which is expected to begin leasing 137 affordable housing units in December 2024. Both buildings also feature a combined 13,000 square feet of commercial retail space for local businesses.

“So many community members and partners contributed their thoughts and recommendations throughout the planning process of Housing Hilltop in the past several years, and we can’t wait to share the end result of the community design effort,” said THA Deputy Executive Director Aley Thompson.

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First Citizens Bank announced it provided a term loan to refinance GenCare Lifestyle Tacoma at Point Ruston, a 159-unit senior living facility in Washington.

The borrower is a joint venture led by Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets with approximately $55 billion in assets under management and consistently ranking among the top five largest owners in the senior housing sector across the United States. The same joint venture with PMB LLC served as the facility’s original developer, with GenCare Lifestyle, another joint venture partner, as the facility operator.

“Demand for high-quality senior living facilities remains strong in the Pacific Northwest and nationwide,” said William Douglass, head of First Citizens Healthcare Finance. “We were pleased to work closely with our clients on this transaction.

The post Tacoma Senior Facility Lands Refi From First Citizens Bank appeared first on Connect CRE.

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The post Tacoma Senior Facility Lands Refi From First Citizens Bank appeared first on VRJ Properties.