More affordable housing is coming to Tacoma.

Surge Tacoma CEO Eli Moreno confirmed in a press release Aug. 12 that his development company recently purchased a three-story, century-old Tacoma hotel on Pacific Avenue to renovate into a micro-apartment complex. Revived as Tacoma Flats, the one-time hotel will offer 46 spaces starting at $799 a month this summer.

“Housing affordability has become a critical issue that we can no longer ignore, and we should all do our part to try to solve it,” Moreno said in the release. “We wanted to bring to market a place where working people don’t have to spend most of their paychecks on rent, and yet enjoy a nice and safe space to live.”

According to the release, each of the new apartments will come entirely furnished and include a full bathroom, bed, sofa chair, desk, and a small kitchenette with a refrigerator and microwave.

The property additionally has a community area designed for mingling and to provide extra space, according to the release. Internet will also available throughout the building.

When the building, which opened to the public in 1913, was bought by Moreno, it was “neglected, suffering major deterioration,” according to the release.

“We are very happy that yet another building in our city has been saved from the wrecking ball,” Moreno said in the release.

Tacoma Flats is not the only project Surge Tacoma is embarking on this year. According to the release, the company is finalizing remodeling plans for downtown’s Old City Hall building.

This building, like Tacoma Flats, is also en route to offering additional affordable housing units.

For more information, go to the Tacoma Flats website.