RIVERVIEW APARTMENTS

Pullman, WA

Riverview Apartments is a new affordable community located in Pullman, Washington, completed in April 2021 and consisting of 56 rental homes on 5.5 acres. The property includes five two- and three-story, garden-style residential buildings comprising 8 one-bedroom/one-bath homes, 22 two-bedroom/two-bath homes, and 26 three-bedroom/two-bath homes. Fifty-five of the apartments are restricted to households earning at or below 30 percent and 50 percent of the area median income (“AMI”), and one apartment serves as a non-revenue manager’s home. Fourteen of the 30 percent AMI homes and fourteen of the 50 percent AMI homes are set aside for occupancy by individuals and families with special needs, including households experiencing homelessness and households with disabilities.

Each home includes a refrigerator, oven/range, dishwasher, microwave, washer and dryer hookups, a walk-in closet, carpet and hardwood flooring, window blinds, central heating and air conditioning, a ceiling fan, exterior storage, and a patio or balcony. Community amenities include a one-story clubhouse with a management office and a community room with a kitchen, a picnic area, a playground, recreational areas, and 133 off-street parking spaces.

Riverview Apartments provides supportive services at no cost to its residents. Services include health education, employment search assistance, vocational rehabilitation, and family development case management. Services are delivered by Community Action Center, a 501(c)(3) nonprofit organization based in Pullman, Washington, which also served as the developer and is the managing general partner of the partnership.

Riverview Apartments was financed with equity of $10,421,000 raised by R4 Capital from investors in the 9 percent Housing Credit, a construction loan from Banner Bank paid down to $734,000 at Rental Achievement, an $800,000 residual receipts loan from the Washington State Department of Commerce Housing Trust Fund, and $431,011 in deferred developer fee. As of March 31, 2026, Riverview Apartments was 95 percent occupied with a waiting list.

This property was developed by Community Action Center, Inc., utilizing the 9 percent Low-Income Housing Tax Credit (Housing Credit).