Boston Capital to develop first and second projects with Tacoma Housing Authority

Boston Capital is investing in the construction of two affordable apartment communities in Tacoma, Wash.: 1800 Hillside Terrace, recently renamed The Rise at 19th, a 64-unit development serving families experiencing homelessness; and Arlington Youth Place, a 58-unit development for primarily homeless youth.

These investments represent Boston Capital’s first and second partnerships with the Tacoma Housing Authority.

“Through the creation of permanent supportive housing, we can help individuals and families transition from homelessness to living independently in safe and affordable homes,” said Jeff Goldstein, COO and director of real estate at Boston Capital.

The Rise at 19th and Arlington Youth Place will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. Boston Capital's investments in these developments add 122 affordable units to its apartment portfolio. To date, Boston Capital has invested in more than 6,000 affordable apartments in Washington state.

Located 32 miles southwest of Seattle, The Rise at 19th is a proposed 64-unit apartment community serving low-income individuals and families experiencing homelessness as well as persons with disabilities. Located on a 1.15-acre site, the development will feature 40 one-bedroom and 24 two-bedroom apartments in a four-story building. Some 20 percent of the apartments are Permanent Supportive Housing (PSH) units set aside for individuals and small families experiencing homelessness, and 20 percent are for households with persons experiencing disabilities. Supportive services for residents will be provided by Tacoma Housing Authority’s Client Services Department. The Rise will serve families and individuals earning 60 percent or less of the area median income.