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Developer seeks to change unit mix at Franz Anderson supportive-housing project to close operating gap
Summary
The Low Income Housing Institute (Lehigh) requested support to change about half of the planned 71 units at Franz Anderson from 30% AMI to 50% AMI to address a projected first-year operating shortfall and attract tax-credit investors; jurisdictions were asked to review and return in January.
Jacinda Stelges updated the Regional Housing Council Dec. 10 on the Franz Anderson permanent supportive housing project in Olympia, a proposed 71-unit development intended primarily for households at or below 30% AMI. The developer, Low Income Housing Institute (Lehigh), notified staff in mid-2025 that expected project-based voucher support from the housing authority and certain Apple Health & Home operating dollars may be unavailable, producing a projected first-year operating shortfall of roughly $285,500.
Lehigh…
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