Submitted by Southport Financial Services
Local officials, housing advocates, and community leaders gathered this week to celebrate the groundbreaking of Viridian Grove, a 98-unit workforce housing development that will provide long-term affordable homes for individuals and families earning 60% or less of the area median income.
Viridian Grove was developed by Southport Financial Services, in partnership with the Metropolitan Development Council and Trillium Housing Services. The development of the South Tacoma project was made possible through significant investments from Pierce County, the City of Tacoma, and the Washington State Housing Finance Commission. The groundbreaking signals important progress and momentum toward addressing Washington state’s growing housing affordability crisis. Projections from the Washington State Department of Commerce call for the construction of 1.1 million new homes over the next 20 years – with more than half needing to be affordable for residents at the lowest income levels – in order to keep pace with the state’s demand.
“Projects like Viridian Grove are exactly what we need to tackle our housing crisis head-on,” said Pierce County Executive Ryan Mello. “We passed the Maureen Howard Affordable Housing Act as part of our effort to make sure everyone in Pierce County has a place to call home. This is just the beginning—Pierce County will continue to prioritize smart investments in housing solutions that create stability and access as we tackle our region’s housing affordability crisis.”
Viridian Grove was supported by a $2 million investment from Pierce County’s Maureen Howard Affordable Housing Fund, which was established in 2023 to provide a dedicated county funding source to support affordable housing projects, rental assistance, and permanent supportive housing initiatives. The project also received $2 million in local funding from the City of Tacoma. These local investments helped leverage additional funding awards from the Washington State Housing Finance Commission, making the $42 million capital investment in Viridian Grove possible.
Tuesday’s event featured remarks and participation from key stakeholders, including Pierce County Executive Ryan Mello, City of Tacoma Housing Manager Felicia Medlen, Metropolitan Development Council CEO Scott Schubert, and Southport Financial Services Development Manager Zac Baker, who emphasized the importance of public-private partnerships in developing sustainable, permanently affordable housing.
“Tacoma is committed to expanding affordable housing options, and Viridian Grove is a testament to what we can achieve when we collaborate and invest in solutions,” said the City of Tacoma’s Housing Division Manager, Felicia Medlen. “This project reflects our commitment to making housing more accessible for all residents.”
Viridian Grove will feature modern, high-quality units designed to support working families and individuals in need of stable housing. The property will offer units with 2, 3, and 4-bedrooms, intended to serve large and multi-generational families, which can be challenging to find on an affordable basis within the current housing market. Construction is set to begin immediately, with completion anticipated in July 2026.
About Southport Financial Services
Southport Financial Services is a Tacoma-based developer specializing in building long-term affordable multi-family housing. With a portfolio of 50 properties and 3,000 permanently affordable homes across Washington, Southport is dedicated to creating high-quality housing that strengthens communities.