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WNC Completes 240-Unit Affordable Housing Community in Washington

WNC recently announced the completion of The Villas at Lakewood, an affordable housing community in the Seattle-suburb of Marysville. Located at 2606 168th Place N.E., the 240-unit property consists of 17 two and three story buildings. 

With a mix of one, two, and three bedroom floor plans, the community is available to families with household incomes that fall between a range of 50 and 60 percent of the area’s median income. It features several amenities including a swimming pool and spa, fitness center, two playground areas, internet café, basketball court, and garden areas. 

In addition, the community also includes bicycle racks, surface parking, carports, and detached garages. 

“The Villas at Lakewood provides residents with a number of unit options and community amenities, and WNC is thrilled to help deliver vitally needed quality affordable housing to Marysville,” said WNC executive vice president and chief operating officer, Michael Gaber. 

Co-developed by an entity of Canddle Development Inc. and American Opportunity Foundation Inc., WNC provided $9.5 million in low-income housing tax credit to support the project. 

“The property is in an excellent location, adjacent to a shopping center with major retailers, and is within one-mile of Lakewood Elementary School,” Gaber added. 

WNC is a national real estate investor specializing in affordable housing with over $6.5 billion in assets and 17 low-income community projects.