Lakewood Area Shelter Association Reaches $1.5 Million Capital Campaign Goal

LAKEWOOD, Wash. -- The Lakewood Area Shelter Association (LASA) today announced it has reached its capital campaign goal to purchase 14 units of transitional housing. A recent grant of $455,000 from the Bill & Melinda Gates Foundation's Sound Families program pushed LASA's campaign over $1.5 million mark. The grant and capital campaign revenue will be used to purchase the Flett Meadows apartments in Pierce County. The $455,000 grant from Sound Families will fund the acquisition of 14 units and provide funds towards case management services.

The goal of the Sound Families program is to make a significant impact on the lives of families in crisis and to help them move toward independence. "This is a goal shared by all of those who contributed to this project, the cities of Tacoma and Lakewood, HUD and the state of Washington," said Janne Hutchins, executive director for LASA.

Endowed by a $40 million dollar grant from the Bill & Melinda Gates Foundation, the Sound Families Initiative will fund 1,500 new housing units for families in transition out of homelessness in King, Pierce and Snohomish counties.

Since the program began in July 2000, nearly 600 new transitional housing units have been funded. LASA was awarded $566,000 in project funding for capital and services last spring from the U.S. Department of Housing and Urban Development (HUD) through the local Pierce County Continuum of Care. Other major funding awards were recently made by the City of Lakewood $168,000, capital funds, the City of Tacoma CDBG, capital funds for $175,000 and the Washington State Housing Trust Fund for $392,000 for the Flett Meadows purchase. Bank financing from the Washington Community Reinvestment Association (WCRA) will complete the financing package for the project.

LASA expects to complete the purchase of Flett Meadows in spring 2003. Units will be rented to homeless families earning no more than 50% of area median income. Families will be able to stay for up to two years while receiving a comprehensive array of supportive services from LASA and its partners to help stabilize their lives. With the help of grant funding, the project will remain affordable for at least 40 years, providing a long-term sustainable source of supportive housing for low-income families.

Real estate technical assistance is being provided to LASA by Common Ground, a nonprofit development consultant based in Seattle and Spokane.

The Lakewood Area Shelter Association is a nonprofit organization committed to preventing homelessness through support services and by providing transitional shelter to homeless families.

On the Internet:
Bill & Melinda Gates Foundation, www.gatesfoundation.org
Sound Families, www.soundfamilies.org
Lakewood Area Shelter Association, www.co.pierce.wa.us/services/assist/housing
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