​

Evergreen Impact Housing Fund (EIHF) and Inland Group have begun construction on Copper Way, an affordable housing development in Spanaway, Washington. Representatives from EIHF, the credit unions and Inland joined local leaders for the groundbreaking of Copper Way recently. The project is anticipated to open in late 2024 or early 2025 with 256 apartments.

This is the first project in Pierce County that benefits from EIHF’s innovative financing model. Copper Way is also supported by a consortium of Washington State credit unions including BECU, WSECU Sound Credit Union and Verity Credit Union as its second EIHF project.

The multifamily community will be situated at Mountain Highway East & Pirnie Street intersection close to stores & bus rapid transit line once completed it will comprise 256 garden-style apartments with 81 percent units having two or more bedrooms .

A groundbreaking ceremony was held recently for Evergreen Impact Housing Fund (EIHF) and Inland Group’s new affordable housing development – Copper Way located in Spanaway, Washington which has been made possible through an innovative financing model by EIFH along with support from a consortium of four state-wide credit unions; BECU , WSECU , Sound Credit Union & Verity Credit Union . This multifamily community when complete would feature 256 garden style apartment units out of which 81% would have two or more bedrooms while being conveniently located near stores as well as bus rapid transit lines . It’s expected to open sometime between late 2024 – early 2025

The post Groundbreaking of Evergreen Impact Housing Fund and Inland Group’s Spanaway Multifamily Project appeared first on CRE MarketBeat.