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Seattle & Northwest  + Seattle  + Apartments  | 
LIHI Acquires Former Lakewood Hotel for $20M

LIHI Acquires Former Lakewood Hotel for $20M

The shuttered Candlewood Suites in Lakewood, WA has a new role, thanks to the Low Income Housing Institute (LIHI) which has purchased the former hotel for $20.2 million. The non-profit organization will convert the 83-room property to Maureen Howard Place, an enhanced shelter for people experiencing homelessness in Pierce County.

Funding for the acquisition comes from the state Department of Commerce Right-of-Way Program, which will be referring homeless people camping along state right-of-ways in Pierce County to the shelter.

The property, which is named in honor of homeless people advocate Maureen Howard who passed away in January, will house approximately 85 people and each room includes a bed, living space, bathroom and kitchen. Six units will be converted into case management offices and community space, with staff on-site 24-hours a day. LIHI Case managers will also help residents obtain permanent housing and employment. 

LIHI expects the first residents to arrive in May.

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LIHIRight-of-Way Safety Initiative

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
  • ◦Development
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