KOZ on MLK - Tacoma, WA

Koz on MLK is a 161-unit workforce housing multifamily with 6,000 sf of ground floor commercial development in Tacoma, WA. Koz on MLK will meet the demands of Tacoma's affordable housing needs by pricing 100% of its units at or below 80% of AMI. The property will also provide services that support the needs of the neighborhood through its commercial space. Part of the commercial space is leased to a local credit union, which will help serve the financing needs of many of the low-income individuals within the community.

• Total Project Cost: $26.5mm

• Catalyst Equity Investment: $8.7mm

• Impact Thesis:

  • Provide critically needed workforce attainable housing with 30% of the units offered at or below 60% of AMI with the remainder below 70% of AMI

  • Address the needs of the community through the programming of the commercial space, which is intended to offer services currently lacking in the neighborhood

  • Leverage a tax incentive provided by the City of Tacoma for multifamily projects in order to maintain long-term affordability

  • Offer a transit-oriented housing option that provides residents nearby access to Tacoma’s expanding light rail line for connectivity to Tacoma and the surrounding major employment centers