Comprehensive Housing Strategy
As a Community Housing Development Organization (CHDO),
Spokane Housing Ventures strives to meet local and regional
housing needs. SHV accomplishes this through direct real
estate development, from feasibility through initial rent-up
of existing properties, including purchase of land and
construction of new buildings, and partnering with
neighborhood groups, other housing or service providers, and
public and private funding providers.
In an effort to continue to grow and expand our portfolio of
safe, decent, affordable housing in this region, SHV is
expanding the scope of our development efforts to
mixed use projects, affordable and market rate rentals.
SHV employs two full-time real estate
development staff who work directly with our community
partners including neighborhood and community groups,
private lenders, investors, and real estate professionals to
identify appropriate sites, financing options, funding
strategies, and the economic feasibility of projects.
In addition to SHV real estate development efforts, we work
closely with for-profit developers to incorporate affordable
housing in market rate housing developments to create
diverse, vibrant neighborhoods which become unique places to
Clare View Seniors: • Clare View Seniors combines Clare House, existing 124 unit senior housing complex, which was taken out of foreclosure and bankruptcy in 2009 by the combined efforts of Spokane Housing Ventures and Whitewater Creek, and 61 units of new construction on an adjacent site. The combined 185 unit project will incorporate much needed deferred maintenance and upgrades for the 124 unit complex and the addition of larger units at the new construction site. Units will become more affordable through the combined financing structure. Seniors 55 and older will be afforded access to existing amenities, which include one hot meal at noon 5 days a week and packaged meals for the weekends at no cost; indoor swimming and exercise facility; meeting rooms; craft room; and combined computer center/library on the existing campus plus a new community room on the new construction site. Financing includes Low Income Housing Tax Credits, a large Affordable Housing Program grant from the San Francisco branch of the Federal Home Loan Bank, Home Program funds from the City of Spokane and the State of Washington's, Department of Commerce, (Housing Trust Fund) along with funds from Spokane County's Affordable Housing Program. Whitewater Creek is our co-developer and will provide construction services for these units. This project is under construction.
Washington Works Project: Spokane Housing Ventures is currently reviewing several properties to determine best option for Washington Works, which is a new financing source for non profit developer/owners. Washington Works will provide gap financing in conjunction with Washington State Housing Finance Commission bond programs. We invite you to visit 'In the Pipeline' in the near future to see which site has been chosen.
Partnership, Investment and Lending
Throughout the course of SHV development, we look for ways
to incorporate a blending of financing tools in order to
meet the needs of projects. This means that there are
investment opportunities, lending opportunities and
partnership opportunities. Visit our partners: