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Inland Group and Horizon Housing Alliance have opened Copper Way, a 256-unit affordable housing community in Spanaway, Wash. When the project broke ground in 2023, total costs were estimated at $82.4 million.

Washington State Housing Finance Commission issued $42 million in tax-exempt bonds with Citibank as trustee to refinance a prior construction loan of $42 million issued by Wells Fargo Bank, Yardi Matrix data shows. Additional funding included a $4.5 million note originated by Pierce County and an $8.7 million loan from Evergreen Impact Housing Fund.

Benefiting from the 4 percent LIHTC program, all of Copper Way’s units are reserved for households earning up to 60 percent of Area Median Income. Floorplans feature one- to four-bedroom layouts ranging from 801 to 1,389 square feet.