REACH CDC, and its subsidiary Affordable Community Environments, recently acquired the Towne Square Apartments in Washougal (2900 H Street).
Originally built in 1977 with funding from USDA Rural Development, Towne Square was nearing the end of its rental subsidy contract, which would have resulted in the loss of 40 units of affordable housing. In order to preserve and maintain much-needed affordable homes for senior and disabled citizens, REACH purchased the project and has begun substantial renovations.
Renovations will include ADA accessibility upgrades; improvements to the siding, windows, and energy efficiency enhancements to the heating and ventilation systems; addition of community space, gardens, and play area; and upgrades to individual units. The development team includes REACH CDC, LMC Inc., Carleton Hart Architecture and the Housing Development Center.
The $7 million dollar acquisition and renovation project was financed with funding from Raymond James Tax Credit Funds Inc., State of Washington Housing Trust Fund, Clark County HOME Investment Partnership, Wells Fargo and NeighborWorks(R) America.
