Not-for-profit health care organization MultiCare has announced an investment of $5 million into Forterra’s Strong Communities Fund II in an effort to support community-driven affordable housing throughout Tacoma’s Hilltop neighborhood. The project is expected to provide four buildings featuring roughly 300 homes — half of which will be priced specifically for local Hilltop residents — and 25,000 square feet of commercial space.
“Our mission is focused on partnering with communities for healing and a healthy future, and this attainable housing project is a huge step forward for community health,” said MultiCare CEO and president Bill Robertson in a statement. “This is MultiCare’s first investment in a project of this kind, and we’re glad that it’s in one of the oldest residential neighborhoods in Tacoma.”
This move comes as a response to the rapid gentrification that has been threatening Tacoma’s historically BIPOC neighborhood. As housing prices in Tacoma continue to increase, Forterra, via its Strong Communities Fund II, has continued its mission of creating “land-based solutions in Washington to support a healthy environment and resilient communities for all.” With the assistance of this sizable Multicare investment, the unveiling of the Hilltop Project is slated for fall 2023.
“MultiCare’s investment in SCF II puts those funds into a vehicle directly designed to build attainable and sustainable homes in under-resourced communities,” said Forterra president and CEO Michelle Conner in a press release. “We are pleased that the MultiCare’s holistic perspective of wellness leads back to healthy, affordable homes that resist displacement of a long-standing community.”