An affordable housing development called Merritt Manor is planned for the former Bailey Motor Inn site on Martin Way, Olympia Federal Savings announced Monday.
Olympia Federal is a partner on the $13.5 million project, which is expected to bring 80 apartments to the site in late 2018. The other partners are Fourth Street Housing LLC and a local nonprofit called Help Us Move In, which was incorporated as a nonprofit in 2015 by Ann Sarver-Merritt and her brother, Burt, according to a news release.
Help Us Move In originally started in 2000 as a First United Methodist Church ministry working with the Family Support Center.
Sarver-Merritt and her late husband, Tony, gave funds to Fourth Street Housing, which then acquired the 5.72-acre site for Merritt Manor. Members of Fourth Street Housing include Olympia architect Glen Wells and developer Scott Wammack.
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Fourth Street paid $1.85 million for the property in January, according to Thurston County Assessor’s Office data. The seller was Fortis Development Group.
Merritt Manor will serve families earning 60 percent or less than the Thurston County median income.
“There is an incredible need for affordable housing in our community,” Olympia Federal President and Chief Executive Lori Drummond said in a statement. “We are really happy to play a vital role in providing new opportunities for local families.”
A groundbreaking ceremony is set for 3:30 p.m. Friday at 3335 Martin Way E.