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Mercy Housing has six affordable housing projects with 500 units in Bellingham. The non-profit is about to break ground on its seventh development in the city, The Millworks Project.
Many of the families in 143 apartments have household incomes well below the Whatcom County median.
Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed of community development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serve.
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SSVF grants are awarded through a competitive application process [8] to private nonprofit organizations and consumer cooperatives to provide eligible Veteran families with outreach, case management, and assistance in obtaining VA and other mainstream benefits that promote housing stability and community integration. SSVF grantees can also make ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
“A lot of those families who have lived there for a long time would have had literally no place to go,” said Mercy Housing Northwest President Joe Thompson. 300 Bellingham residents almost ...
The Caroline Severance School located on the ground floor of the eighth street building opened in 2016 and houses a low and no-cost preschool operated by the YMCA. The developer of the project, Mercy Housing, owns and manages the residences. First Church owns the school and the portion of the parking reserved for church use.
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