Housing Development Type: Renovation of Assisted Living
Number of Housing Units: 95
NDC Equity Investment: $8.3 Million
Total Development Cost: $27.9 Million
Partners: Vancouver Housing Authority
Van Vista Plaza was the renovation of a 95-unit 10-story building originally constructed in 1969 that serves the senior population of Vancouver, WA as both an assisted living and independent senior rental housing facility. It is owned and operated by the Housing Authority of the City of Vancouver (VHA). The property underwent an extensive renovation, the scope included updates to all living units, community space, building envelope updates and replacement of major mechanical systems. The project is 100% assisted living and targets low-income seniors age 65 and older who can no longer live independently and need help with daily living activities. This project includes Project-Based Vouchers which allows individuals well below the 60% AMI level to afford to live at the project, daily living expenses are supported by the Medicaid Waiver reimbursement program. While the services to the residents are optional, this development provides the same services and amenities found in market rate assisted living facilities, but at a much cheaper cost to the residents. Van Vista Plaza utilized the 4% LIHTC program as well as tax exempt bonds issued by the VHA.