| The 51-unit Cedar Heights Apartments in Port Orchard has been purchased by a Seattle-based non-profit group, the Low Income Housing Institute (LIHI). The group works to preserve low-income housing units with the goal of keeping them affordable for families.
The purchase brings to seven, the number of low-income apartment facilities in the state owned by LIHI. Although Cedar Heights is its first acquisition in Kitsap County, the group has worked with other organizations to set up low-income housing locally.
The sale closed on Dec. 19, for a reported $1.5 million. Funding for the purchase came from the State Housing Trust Fund and Key Bank. The seller was a private owner called the Cedar Heights Partnership LLC.
According to Sharon Lee, executive director of LIHI, the 22-year-old complex will remain as Section 8 subsidized housing. The complex represents 20 percent of the current Section 8 housing inventory in Port Orchard.
LIHI plans major renovations to the 6.8 acre complex located at 333 Lippert Drive, which is off Pottery Avenue. Using funds from Kitsap County, Kitsap County Consolidated Housing Authority, Enterprise Social Investment Corporation and the Washington State Housing Finance Commission, approximately $400,000 will be spent to renovate kitchens, replace electrical wall heaters, replace siding and on other exterior work. |
