Washington Trust Gets Housing Grants
Washington Trust Bank has received grants worth $182,411 to help finance two Spokane housing projects intended for low-income residents who are physically disabled or with a history of mental illness or substance abuse.
The funds from the Federal Home Loan Bank in Seattle bring to $3 million the sum provided through its Affordable Housing Program to 30 projects around Washington so far in 1996.
The larger of the grants - $97,411 - will reduce the principal due on a permanent loan for the recently-completed refurbishing of a former nursing home at 518 S. Browne.
The facility, known as Sun Ray Court, is owned by New Horizon Care Centers Inc., which will provide case management, nursing care and counseling to residents.
To qualify for residency at the male-only facility, individuals cannot earn more than $13,350.
The City of Spokane and Washington State Housing Trust Fund also contributed more for the $1.6 million project.
New Horizons now operates two Spokane facilities. The second, Isabella House, offers counseling and other services to women.
The other grant will assist construction of Eagle Crest Estates, a 21-unit apartment complex to be built at 819 S. Hatch.
The project for the physically disabled will be fully accessible, including provision for 24-hour support services.
Accessible Space Inc and Designs for Independent Living Inc. will break ground for the $1.5 million facility this month.
Other funding will be provided by the U.S. Department of Housing and Urban Development, the City of Spokane and the Washington State Housing Trust Fund.
A local resident donated the property.
, DataTimes