PORTLAND, Ore. –August 15, 2019 —REACH Community Development (REACH) and community members celebrate the completion of Isabella Court II, the second of a phased affordable apartment development in Vancouver, WA. Grand opening festivities will take place on Saturday, August 17th at 11:00 am at 3020 NE 62nd Ave, Vancouver with refreshments, brief program, and self-guided tours of the building.
This is REACH’s seventh apartment community in Southwest Washington and REACH's first project to incorporate the 2016 voter approved City of Vancouver Affordable Housing Fund.
“The need for affordable apartments is very high in Vancouver and finding family sized apartments is even more challenging,” says REACH CEO, Dan Valliere. “Isabella Court II is a step towards filling that critical need for Vancouver and we are grateful to our partners for helping get this development across the finish line.”
Located on the Fourth Plain Corridor, the new building is adjacent to Isabella Court I, which is home to residents 62 years of age or older. Isabella Court II is a four-story building with 49 apartments serving the needs of Vancouver’s families experiencing homelessness or at risk of becoming homelessness. The building includes 34 one-bedroom and 15 two-bedroom apartments; with rents affordable to families who earn 50% or less of median family income—$43,950 or less annually for a family of four. Additionally, 30 of the apartments include a project-based rental subsidy from the Vancouver Housing Authority, making them affordable to households earning 30% or less of median income ($26,370 or less annually for a family of four).
“I’m excited for the inter-generational community that will develop here between our two buildings,” says Valliere. “This new community creates many opportunities for collaboration, mutual support, and mentoring for the families moving into this new building.”
The $13.9 million project is financed with funding from Bank of America Merrill Lynch, City of Vancouver Community and Economic Development, Clark County Community Services, NeighborWorks® America, Raymond James Tax Credit Funds Inc., U.S. Department of Housing and Urban Development, Vancouver Housing Authority, Washington State Department of Commerce, and Washington State Housing Finance Commission. The building is designed by MWA Architects with construction by TEAM Construction.
About REACH CDC
Since 1982, REACH has built innovative and affordable apartment homes for low-income families and individuals in the metropolitan region. REACH, a NeighborWorks® member, develops and manages affordable housing and provides supportive services to residents, and helps low-income senior homeowners maintain their homes with free home repairs and accessibility upgrades. Today, REACH stewards over 2,400 apartments, including single family homes, apartment buildings and mixed-use developments located across the Multnomah and Washington Counties in Oregon and Clark County in Southwest Washington. REACH has won numerous state and national awards for its creative approach to building healthy communities and its innovative housing projects. More information available at http://reachcdc.org.
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