Press Release

THA To Buy And Redevelop KeyBank Branch in Hilltop Neighborhood

December 21, 2015

TACOMA – December 21, 2015 – Tacoma Housing Authority (THA) has agreed to buy KeyBank’s Hilltop branch building and property at 1120 S. 11th St. in the Hilltop neighborhood of Tacoma. It plans to redevelop the site as mixed-use and affordable housing.

THA has a longstanding commitment to Hilltop. This purchase is part of several new THA investments that will help ensure continued Hilltop development. THA has purchased The New Look Apartments at the corner of South 11th St. and Martin Luther King Jr. Way where it plans a substantial fix-up when it completes refinancing in two years. THA is also working with the City of Tacoma to develop Hilltop Lofts, a 52-unit mixed-use/mixed-income affordable housing development on the corner of South 12th St. and Martin Luther King Jr. Way. Acquiring the KeyBank Hilltop location will allow THA to develop an integrated master plan for the area. The timeline for redeveloping the site has not yet been set.

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About Tacoma Housing Authority

Established in 1940, Tacoma Housing Authority provides high-quality, stable and sustainable housing and supportive services to people in need. It does this in ways that help them prosper and help our communities develop equitably. THA develops and manages real estate and provides rental housing. In partnership with thousands of private landlords, it helps families pay the rent in the private rental market. It delivers supportive services to help families succeed as “tenants, parents, students, wage earners and builders of assets who can live without assistance.” THA seeks to do its work in ways that help our community be an “attractive place to live, work, attend school, shop and play,” and that help Tacoma be “safe, vibrant, prosperous, attractive and just.”