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News / Business / Clark County Business

New apartments planned for Vancouver’s international district

By Will Campbell, Columbian Associate Editor
Published: November 13, 2021, 6:07am

A new 50-unit affordable housing apartment complex by Ginn Group’s nonprofit arm Ginn Gives aims to help steer Vancouver’s housing stock in the right direction.

Ginn Gives plans to begin construction on Allegro Pointe by the end of the year with a Dec. 2 ground breaking at the site, 2929 N.E. 65th Ave., near Living Water Community Church. The first occupancy is planned for late 2022 with project completion in 2023. The estimated cost is under $11 million.

The plans include 50 units, all with affordable housing, of one- and two-bedroom apartments in a three-story building that looks sleek and white, according to renderings provided by LSW Architects, who partnered with Ginn for the project. Plans also call for 59 on-site parking spaces.

The building’s style is referred to as transitional modern, according to Melissa Lynn Galland, director of the brand strategy and experience at Ginn Group.

“You tend to see affordable housing choices that aren’t as beautiful,” she said. “In this case, that’s not the point here. We want it to be beautiful and affordable.”

Tenants must be at 80 percent of the AMI or area median income, which was $75,253, according to the U.S. Census Bureau. Rents for each tenant will be calculated based on affordable housing under the city of Vancouver’s Multi-Family Tax Exemption Program.

The affordable units help fill the supply for lower-income residents that’s reaching a critically levellow level in Vancouver, driving people out of the city.

Any excess income (above paying expenses and paying the loan) is expected to find its way back into other community initiatives, whether other affordable housing projects or support of other nonprofits, said Galland.

Ginn Gives plans to build 250 affordable housing units in Southwest Washington by 2030, said Galland.

Vancouver-based Ginn Development, owned by Patrick Ginn, plans to use its relationships in the construction and development industry to leverage lower costs and make the project as affordable as possible.

“We’re counting on our friends in the industry to help make the apartments more affordable,” Galland said.