Several South Sound motels to be converted to affordable housing
Several current and former motels are set to be converted into affordable housing thanks to a push by South Sound cities to clean up crime-ridden short-stay properties.
Emily Hubbard, who co-founded Sage Investment Group with her husband, Ross, said the cities of Fife, Lakewood and Tacoma sought affordable housing developers to transform low-end motels known for criminal activity into affordable housing. At least five properties are in the pipeline and more could be on the way.
Sage plans redevelop three motels in the Fife area into affordable housing. This week, the company closed on the purchase of the Travelodge at 3516 Pacific Highway E. for $5.5 million and the Port of Tacoma Inn at 3501 Pacific Highway E. for $7.1 million. The company also has another motel purchase in the works.
Hubbard said some of the first apartments could be ready in as little as six to eight weeks.
https://www.bizjournals.com/seattle/news/2022/03/09/hotels-to-become-housing-tacoma.html