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Seattle & Northwest  + Seattle  + Hospitality  |  October 29, 2024
Jasmine Kilman
By: Jasmine Kilman

LIHI Acquires Tacoma Motel for Affordable Housing Project

Seattle-based Low Income Housing Institute (LIHI) on Monday announced the acquisition of a Tacoma motel near Interstate 5 that will convert to housing. The former Clarion Inn, now Oasis Inn, at 6802 Tacoma Mall Blvd., has been acquired by LIHI for $13.4 million.

The 128-room site last sold in February 2020 for $10.5 million. The regional housing agency has purchased five hotels since 2021 and operates 17 tiny house villages. It also owns 3,500 affordable apartments in the Puget Sound region. LIHI is already using half of the units for permanent supportive housing, reported the Puget Sound Business Journal.

The motel acquisition will be funded by the Washington State Department of Commerce Housing Trust Fund, Apple Health and Home Program, Encampment Resolution Program, Pierce County and Enterprise Community Partners. The site will be part of the state’s Apple Health and Home Program, which matches healthcare services with housing resources.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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