16 projects vie for Affordable Housing Fund dollars

Sixteen projects are looking for a piece of Vancouver’s $6 million Affordable Housing Fund as applications have opened for a second round of funding. For the first time, for-profit developers are also looking for assistance.

The Affordable Housing Fund was created by voters in November 2016 to support construction, acquisition or rehabilitation of multifamily housing for people experiencing homelessness or for low-income residents. The fund generates about $6.1 million annually from property taxes.

This year’s second round of applications totals $8.9 million, so the city council will have to decide which projects will or won’t be funded.

In 2017, the fund distributed $5.61 million to seven new construction projects and four rehabilitation projects, adding 237 rental units and renovating 20 existing units.

“We’re excited to see double the number of applications for affordable housing fund projects this year,” said Peggy Sheehan, the city’s community & economic development programs manager.

In the past, Sheehan said the city was hoping to attract private developers to the fund to increase the number of units available.

Of the 16 applications submitted this year, 11 are for new construction or acquisitions. Three of those projects are proposed by for-profit developers. All told, the projects would bring an additional 348 units to Vancouver, with 189 of those units priced in order to be affordable to people earning 50 percent of the area median income or less.

The proposed construction projects are as follows:

• Veterans Village, by America for Veterans Foundation, seeking $735,000 for 18 units serving military veterans.

• A development by Community Roots Collaborative, seeking $500,000 for 10 units serving the homeless community.

• Acquisition of land by Evergreen Habitat for Humanity, seeking $300,000 for six units serving families with children.

• Grand Ave., by Grand Apartments JV, LLC, seeking $550,000 for 14 units serving low-income families.

• The Pacific, by Housing Initiative LLC, seeking an additional $600,000 for 18 units serving people with disabilities who are exiting homelessness (Pacific received $250,000 in 2017 for the project.)

• Grandview Apartments, by Leeway Development Co., seeking $850,000 for 17 units serving seniors and single-income families.

• Recovery Residence for Women, by Lifeline Connections, seeking $200,000 for four units serving low-income women with behavioral health disorders.

• Mercy-PeaceHealth Family Housing, by Mercy Housing NW, seeking $850,000 for 73 units serving low-income families.

• Arnada Workforce Housing, by Palindrome Communities LLC, seeking $350,000 for 17 units serving low-income families and individuals.

• An acquisition by Second Step Housing, seeking $500,000 for 10 units serving those exiting homelessness, people with disabilities and seniors.

• A multifamily unit acquisition by Vancouver Housing Authority, seeking $100,000 for two units serving low-income families.

Five other proposals involve renovation of existing housing. Vancouver Housing Authority asked for $3.15 million to renovate 343 units split between four developments. The fifth application in the category came from Second Step Housing, which asks for $215,000 to renovate 52 units.