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Tacoma Housing Authority Press Release:

Tiki Apartment Owners Partner with Tacoma Housing Authority to Transform Newly Renovated Apartment Building into Affordable Housing for Homeless Tacoma Community College Students

 

TACOMA, WA –

October 11, 2018 –Tacoma Housing Authority (THA), and CWD Investments (owners of Highland Flats, formerly the Tiki Apartments) are pleased to announce an agreement that will enable the 62-unit building to become part of THA and TCC’s innovative partnership to house homeless and near homeless TCC students.

THA and TCC’s College Housing Assistance Program (CHAP) provides THA rental assistance to homeless or near homeless TCC students, most of whom are parents of young children. Harvard’s Kennedy School recently named the CHAP among the nation’s top 25 most innovative governmental initiatives for 2018. (Information on Harvard Kennedy School's top 25 most innovative governmental programs 2018 here.) (Information on the CHAP program here.) 

The expansion of their CHAP partnership to Highland Flats will add new housing units just down the street from TCC’s campus. In this way, Highland Flats supplements other properties that THA has purchased within walking distance of the campus, all available to these students. This expanded partnership between THA and CWD Investments uses an innovative THA rental subsidy. (THA is offering the same subsidy to other property owners. Details on THA's offerings here.)

The arrangement offers many advantages to TCC students, CWD Investments, and the neighborhood of West Tacoma:

• The partnership adds 62 apartments to the CHAP program to house homeless or near homeless TCC students. Highland Flats gives these TCC students first claim on any vacancy.
• Highland Flats is within easy walking distance of the TCC campus and on major bus line.
• Vacancies not taken by TCC students will be reserved for other extremely low-income households in Tacoma (incomes under 30% of the Area’s Median Income).
• THA will provide an annual subsidy of $560,000 to make the apartments affordable to these households.
• All units will pass THA’s quality inspection standards. All tenants will enjoy full tenant protections, including “good cause” requirements for terminations. CWD Investments, which recently purchased the Tiki, will make a substantial investment in a long overdue rehabilitation to make Highland Flats, not only affordable with THA subsidies, but also safe, inviting and attractive. In this way, CWD Investments has made a large, necessary, and timely investment in Tacoma’s housing stock.

“A college can offer wonderful programs and support services, but if students don’t have a place to go home to at night, chances are they won’t be finishing their programs,” said Mary Chikwinya, TCC Vice President for Student Affairs. “CHAP gives students who are among the most likely to drop out a way to stay and finish.”

“When the idea surfaced with THA and TCC to use this property as a means to house low-income TCC students, we knew it was a solution we wanted to be part of,” said Chad Duncan, Owner at CWD Investments. “We’ve done a lot of listening in the past several months and this partnership is a way we can help.”

“THA is proud to welcome CWD Investments to the THA-TCC partnership. The Highland Flats apartments are particularly valuable because rents in West Tacoma continue to rise above what is affordable to TCC students even with THA’s CHAP rental assistance”, said Michael Mirra, THA Executive Director. “This partnership is an excellent investment in these striving but struggling students. A TCC degree is a key to their adult prosperity. And since most of them are parents, CHAP is also an investment in the lives and prospects of their children. That makes this partnership a very good use of scarce THA housing dollars.”

Media Contacts:

Michael Mirra Tacoma Housing Authority (253) 207-4429 mmirra@tacomahousing.org

Tamyra Howser Tacoma Community College (253) 566-6050 thowser@tacomacc.edu

Natalie Quick for CWD Investments (206) 779-0489 natalie@nataliequick.com

About Tacoma Community College

Since opening its doors in 1965, TCC has provided a high-quality, affordable education to more than 500,000 people. Serving Tacoma, Gig Harbor, the Key Peninsula, online students, and the women’s prisons, TCC educates about 13,000 students annually. Many TCC students are the first in their families to attend college. 58 percent receive financial aid, 13 percent have children, and 48 percent work while attending school.

100 percent committed to student success, TCC continually finds innovative ways to help students. Since launching its Open Educational Resources initiative in 2011, TCC has saved students collectively more than $5 million on textbooks. Designated an Achieving the Dream Leader College, TCC provides a model for other schools seeking to engage students and boost completion rates. TCC is also one of 67 colleges selected nationally to participate in the Department of Education’s Second Chance Pell pilot program, providing access to education for incarcerated individuals. Designated as Military Friendly College®, TCC is proud to serve Pierce County’s military community. In fall 2018, the college will open a food pantry on campus to support students experiencing food insecurity. For more information about TCC go to www.tacomacc.edu.

About Tacoma Housing Authority

Established in 1940, Tacoma Housing Authority provides high-quality, stable, and sustainable housing and supportive services to people in need. It does this in ways that help them prosper and help our communities develop equitably. THA develops and manages real estate and provides rental housing. In partnership with thousands of private landlords, it helps families pay the rent in the private rental market. It delivers supportive services to help families succeed as “tenants, parents, students, wage earners, and builders of assets who can live without assistance.” THA seeks to do its work in ways that also help our community be an “attractive place to live, work, attend school, shop and play,” and that help Tacoma be “safe, vibrant, prosperous, attractive and just.” For more information about THA and its work, go to www.tacomahousing.org.