Martindale to get $2.5 million state loan

Washington state will loan the Spokane Housing Authority more than $2.5 million to help turn the old Hillyard High School into apartments for homeless and low-income residents.

The loan is among some $22.5 million in loans and grants from the state Commerce Department’s Housing Trust Fund announced Wednesday by Gov. Chris Gregoire’s office.

“We’re very happy about that,” Steve Cervantes, executive director of the Spokane Housing Authority, said. “We have all the elements to make this work.”

The project will restore much needed housing and the construction will provide economic stimulus in the community, he said.