Stuart Place Apartments is a 36-unit affordable housing community located in the Historic District of downtown Olympia, WA. Residents enjoy access to local transit stations, local dining options and coffee shops, views of Capitol Lake, and quick access to Sylvester Park. The area’s main thoroughfare, Interstate 5, is less than two miles away for commuter ease. Capital Mall and several other shopping centers are within two miles west of Stuart Place as are primary and secondary schools. Outstanding nearby recreational opportunities for residents include the Cascade and Olympic Mountains, South Puget Sound, Mount Rainier National Park, Pacific Ocean beaches, and Olympic National Park.
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.
Stuart Place offers studio, one, and two bedroom floorplans with electric kitchens a breakfast bar, ceiling fans, washer/dryer connections, and a linen closet. The community offers amenities such as an elevator, bicycle storage, a laundry facility on every floor, a resident lounge, and retail on the ground floor.