DevCo Residential Group
DevCo's Joey Launceford shares how they built affordable housing in Lakewood.
DevCo Residential Group has been in the business for more than 35 years, primarily focusing on affordable housing.
Kendrick Landing in Lakewood, WA
Kendrick Landing is a 245-unit affordable housing project in Lakewood, Washington, with three podium buildings and one- to four-bedroom unit types.
We’ve always joked that the only thing that separates our affordable housing from market-rate housing is the quartz or granite countertops. Otherwise, it’s pretty much indistinguishable.
Kendrick Landing is a great example of what is needed right now. This is affordable, rent-restricted housing, and there’s a tremendous amount of demand for what we do.
The Challenges of Affordable Housing Development
At the same time, developing affordable housing has never been more challenging. Land costs are high, construction costs are high, and interest rates continue to climb.
Those challenges make the incentives that the City of Lakewood has brought to the table even more important.
A Developer-Friendly City
Even more important, the City of Lakewood has been very developer-friendly.
Whether it’s finding creative solutions around financing or working with permitting fees, the city has been willing to work collaboratively with us.
Lakewood also offers impact fee reductions for affordable housing, which can make an important difference when putting an affordable housing project together.
Working With the City of Lakewood
If you’re a developer or business owner in Lakewood and you believe a project is something the city needs, the city will reciprocate your effort, communication, and desire to get the project done.
For DevCo Residential Group, that collaborative relationship helped make Kendrick Landing possible and demonstrates what can happen when developers and the City of Lakewood work together toward a shared goal.
Building Opportunities in Lakewood
Kendrick Landing shows how collaboration between a developer and the City of Lakewood can help create new affordable housing opportunities while supporting development in the community.
For developers and businesses looking for a community where the city is willing to communicate, collaborate, and find creative solutions, Lakewood offers a developer-friendly environment for getting projects done.
Kendrick Landing in Lakewood, WA
Kendrick Landing is a 245-unit affordable housing project in Lakewood, Washington, with three podium buildings and one- to four-bedroom unit types.
We’ve always joked that the only thing that separates our affordable housing from market-rate housing is the quartz or granite countertops. Otherwise, it’s pretty much indistinguishable.
Kendrick Landing is a great example of what is needed right now. This is affordable, rent-restricted housing, and there’s a tremendous amount of demand for what we do.
The Challenges of Affordable Housing Development
At the same time, developing affordable housing has never been more challenging. Land costs are high, construction costs are high, and interest rates continue to climb.
Those challenges make the incentives that the City of Lakewood has brought to the table even more important.
A Developer-Friendly City
Even more important, the City of Lakewood has been very developer-friendly.
Whether it’s finding creative solutions around financing or working with permitting fees, the city has been willing to work collaboratively with us.
Lakewood also offers impact fee reductions for affordable housing, which can make an important difference when putting an affordable housing project together.
Working With the City of Lakewood
If you’re a developer or business owner in Lakewood and you believe a project is something the city needs, the city will reciprocate your effort, communication, and desire to get the project done.
For DevCo Residential Group, that collaborative relationship helped make Kendrick Landing possible and demonstrates what can happen when developers and the City of Lakewood work together toward a shared goal.
Building Opportunities in Lakewood
Kendrick Landing shows how collaboration between a developer and the City of Lakewood can help create new affordable housing opportunities while supporting development in the community.
For developers and businesses looking for a community where the city is willing to communicate, collaborate, and find creative solutions, Lakewood offers a developer-friendly environment for getting projects done.
