June 15, 2017

Celebrating the Grand Opening of Billy Frank Jr. Place

Bill Frank Jr. Place

The Low Income Housing Institute (LIHI) recently celebrated the grand opening of Billy Frank Jr. Place in downtown Olympia, Washington! LIHI has constructed 43 new apartments with subsidized rents for homeless families and individuals. The development has excellent access to public transportation and services and a large community space and landscaped patio.

Financing

Heritage Bank provided a construction period loan of $6.5 million. Washington State Housing Trust Funds provided permanent financing of $3 million. Enterprise was proud to provide $9.1 million of equity on behalf of Heritage Bank. Congratulations to LIHI on this valuable addition of housing to support Olympia’s most vulnerable residents.