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WaMu Offers $1.64 Mil for Affordable Housing

SEATTLE-Washington Mutual has provided $1.64 million in construction financing for the Fountain Heights Apartments, a 60-unit multifamily housing project in St. George, UT. Construction is expected to be completed in June 2002.

By Gina Binole | Updated on December 19, 2001

SEATTLE-Citing a growing need for affordable housing, Washington Mutual (NYSE:WM) has ponied up $1.64 million in construction financing for the Fountain Heights Apartments, a 60-unit multifamily housing project in St. George, UT.

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.

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