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| Michael Gaber |
SEATTLE, WA – WNC, a national investor in real estate and
community development initiatives, announced the completion of The Villas at
Lakewood, a 240-unit affordable housing community in the Seattle-suburb of
Marysville.
WNC provided $9.5 million in low-income housing tax credit
(LIHTC) equity to fund the project.
Located at 2606 168th Place N.E., The Villas at Lakewood is
available to families earning between 50 and 60 percent of the area’s median
income level.
“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.
“The property is in an excellent location, adjacent to a
shopping center with major retailers, and is within one-mile of Lakewood
Elementary School.”
The Villas at
Lakewood was co-developed by an entity of Canddle Development Inc. and American
Opportunity Foundation Inc.
The property consists of 17 two- and three-story buildings
containing a mix of one-, two- and three-bedroom units. Community amenities
include a clubhouse, swimming pool and spa, two playground areas, internet
café, car wash area, fitness center, basketball court, storage lockers, picnic
areas and an outdoor fitness area.
The community also includes walking trails and garden areas.
In addition to bicycle racks, The Villas at Lakewood features surface parking,
carports and detached garages.
For a complete copy of the company’s news release, please
contact:
Julie Leber
Account Manager
Spotlight Marketing Communications
18101 Von Karman Avenue, Suite 330
Irvine CA 92612
949-427-5172, ext. 703
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