<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=1deTnW_1F8tCGLv00" alt="https://img.particlenews.com/image.php?url=1deTnW_1F8tCGLv00" width="1763" height="1175" ><figcaption>From the Sept. 10 unveiling.&nbsp; Courtesy of Southport Financial Services</figcaption></figure>Southport Financial Services, Pierce County, the city of Tacoma, and other project partners last week celebrated the grand opening of the Viridian Grove Apartments.The newly completed community is a 98-unit complex designed around affordable workforce housing, according to a press release.“Pierce County is serious about affordable housing, and projects like Viridian Grove prove it,” said Pierce County Executive Ryan Mello in the release. “For every dollar we invest through the Maureen Howard Affordable Housing Fund, our money is multiplied many times over, creating safe, stable, and affordable homes that wouldn't otherwise get built. We are grateful for partners like Southport, who are proven stewards of our resources and are helping deliver the kind of housing supply Pierce County needs.”The $42-million project was led by Tacoma-based Southport Financial Services and was made possible by a $2-million investment from Pierce County’s Maureen Howard Affordable Housing Act, $2 million in local funding from the city of Tacoma’s Community Redevelopment Authority, tax credits from the Washington State Housing Finance Commission, and private lending.All units in Viridian Grove are offered to households earning at or below 60% of the area median income, featuring apartments with two to four bedrooms and providing tenants an average rent savings of $450 per month compared to market rates, the release said. The new community also features partnerships with Wellpoint Washington, which helped provide equity financing, as well as Metropolitan Development Council and Trillium Housing Services, who will provide services to Viridian Grove residents.“Housing stability and health are inseparable. When a family is worried about where they'll sleep at night, managing a chronic condition or keeping a child's vaccines on schedule becomes so much harder,” said Lisa Bogard, president and CEO of Wellpoint Washington, in the release. “That's why Wellpoint Washington is proud to invest in projects like Viridian Grove, alongside partners like Southport, Pierce County, and the city of Tacoma.”Viridian Grove was designed with larger families in mind in an effort to address a critical shortage of affordable housing for that demographic. While new developments often feature one- and two-bedroom apartments, Viridian Grove’s units with three and four bedrooms are meant to target that gap and “reflects a broader commitment across Southport's portfolio to building family-sized units,” the release said.“Affordability shouldn't be something we settle for — it should be something that sets the standard,” said Tacoma Mayor Anders Ibsen in a statement. “Viridian Grove delivers quality construction, thoughtful design, and family-sized homes, and we are proud to celebrate its successful delivery. This is Tacoma at its best: responsible developers; state and local government; and community partners all coming together to get this done. That's the norm we want, not the exception."The opening of Viridian Grove is the latest project delivered under Pierce County’s Maureen Howard Affordable Housing Act. Since the act passed in 2023, the County’s 1/10th of 1% housing sales tax has generated more than $33 million for affordable housing, funding the creation or preservation of more than 1,325 units across the county.</div></body>

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Southport Financial Services, Pierce County, the city of Tacoma, and other project partners last week celebrated the grand opening of the Viridian Grove Apartments. The newly completed community is a 98-unit complex designed around affordable workforce housing, according to a press release. “Pierce County is serious about affordable housing, and...

Tacoma Unveils New Affordable Workforce-Housing Project

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Southport Financial Services, Pierce County, the city of Tacoma, and other project partners last week celebrated the grand opening of the Viridian Grove Ap

Tacoma Unveils New Affordable Workforce-Housing Project

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