The 48,513-square-foot property will feature a mix of 40 studios and 24 one-bedroom units. The architect is Encore Architects, and the contractor is Deacon Construction. Construction of Phase 2 is expected to be completed in September 2024. “These types of projects are exactly what we had hoped for when our community passed the Home Fund Levy,” said Olympia Mayor Cheryl Selby.
Financing for Phase 2 includes Raymond James, as a tax credit equity investor, and JP Morgan Chase, as an investor and construction lender. Other funders include the State Housing Trust Fund, Thurston County, City of Olympia, Housing Authority of Thurston County, Federal Home Loan Bank of Des Moines, The Home Depot Foundation, Banner Bank, and Washington State Housing Finance Commission.
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.