Tacoma Housing Authority gets REDI

To build a TOD at James Center North

The Tacoma Housing Authority has secured REDI funding for its nearly 7-acre project at James Center North.

The development is near the future terminus of Tacoma Link, providing an opportunity for a mixed-income, mixed-use building across from Tacoma Community College.

The master planning process included advisory group meetings with a range of stakeholders as well as designers and consultants, multiple open houses for public engagement, and on-going community engagement events.

The community vision for the site is to provide diverse, mixed-income housing opportunities and communal open and green space, that honor the best practices in sustainable development.

The public-private Regional Equitable Development Initiative (REDI) Fund was born out of the work of PSRC’s Growing Transit Communities Partnership to help finance the acquisition of property along transit corridors to preserve the affordability of future housing and community facilities.

The REDI fund came together in December 2016, with public funders including Enterprise Community Loan Fund, Low Income Investment Fund, Living Cities Blended Catalyst Fund, State of Washington, King County Housing Authority, City of Seattle, King County, and A Regional Coalition for Housing. 

In the first three years, the fund has provided four loans totaling nearly $12 million for projects across the region.

Bellwether Housing’s Tukwila Vespers, Mt. Baker Housing’s Beach Square, and Capitol Hill Housing’s JazzEd are the other projects that used the REDI Fund program.