The property was built and placed in service in 1994 under the Section 42 Low Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 60% of Area Medium Income (AMI) limits, which are provided by the Washington State Housing Finance Commission. The property is beyond its initial tax credit compliance period.
Fern Ridge Place offers one, two, and three bedroom floorplans with well-equipped kitchens with a dishwasher and pantry, a linen closet, built-in shelving, and washer and dryer connections. The community offers amenities such as an on-site leasing office, resident lounge with fireplace, television, and kitchen, a fitness center, sauna, and multiple on-site laundry facilities.