The Seattle-based Low Income Housing Institute acquired the Heron apartments in Tacoma for $22 million in a deal recorded Wednesday.
The nonprofit affordable housing provider secured a $21.3 million Washington state Rapid Housing Acquisition grant in late September that was earmarked for purchase of the building. The money was part of a $77.9 million round of awards from state Department of Commerce to create 390 affordable housing units in Washington.
For the full story, go to the Puget Sound Business Journal.
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