Located at 3400 S. River Road, the Fountain Heights Apartments will offer below-market rates for 50 of the 60 units to families earning 60% or less of the area media income. Units will range from two- to four-bedroom units and 885 to 1,352 sf.

Construction is already under way and is expected to be completed in June 2002.

"Quality rental housing is increasingly in demand in southwestern Utah, particularly with increased tourism to the area's national parks and steady growth in the local economy," says Tobias Washington, vice president and regional community lending manager at Washington Mutual. "The advantage of the Fountain Heights complex is its flexibility to provide quality housing for a full spectrum of renters -- from individuals paying market-rate rents to low-income renters needing more affordable rates."