SKYLSTAD FAMILY HAVEN

Twisp, WA

Skylstad Family Haven is the proposed new construction of a 48-home Low-Income Housing Tax Credit (“Housing Credit”) apartment community on 4.5 acres, located in Twisp, Washington. The 48 one-, two-, and three-bedroom homes will be located in three two-story, garden-style buildings, complemented by a standalone community building. Forty-seven of the apartments will be targeted to individuals and families earning up to 30 percent, 40 percent, and 60 percent of the area median income (AMI), and one three-bedroom home will serve as a non-revenue-generating manager’s apartment. Twenty-five percent of the homes will be set aside as permanent supportive housing for individuals experiencing homelessness and others with special needs, and eight homes will benefit from a 20-year HUD project-based Housing Assistance Payments Contract.

In-home amenities will include a refrigerator, stove/oven, dishwasher, washer and dryer hookups, window blinds, vinyl plank flooring throughout, and air conditioning. Property amenities will include the community building with a leasing office and on-site management, central laundry, a playground, and social services provided at no cost to residents.

Skylstad Family Haven will be financed with equity of $13.6 million raised by R4 Capital LLC from investors in the 9 percent Housing Credit, a $5 million soft loan from the Washington State Housing Trust Fund Program, a $792,000 soft loan through the Connecting Housing to Infrastructure Program, and a deferred developer fee. There will be no permanent foreclosable debt, as a taxable construction loan of $11 million will be fully paid off at Rental Achievement. Construction is expected to be completed in October 2026.

This property is being developed by Catholic Housing Services of Eastern Washington, utilizing the 9 percent Low-Income Housing Tax Credit (Housing Credit).