Cornus House
Cornus House is a new workforce housing project in Tacoma, WA completed by Great Expectations in 2024 and now in lease-up. It is located in one of the most transit-oriented locations in the state and provides excellent access to local amenities. It was completed on time and $1m under budget, in 21 months.
Location
2501 Commerce St Tacoma, WA 98402
Scale, Unit Types, Affordability
- 199 homes, including studio, 1BR and 2BR
- 60-80% AMI
Notable Partnerships
- First project in Pierce County to use PACE financing
- 10 vouchers from the Tacoma Housing Authority for youth exiting the foster care system
Mixed-Use / Non-Housing
3 commercial spaces, totaling 2400 sf
Total Development Cost
$54 M
Funding Sources
- PACE loan, $13M: New program for environmentally sustainable & resilient development
- Stearns Bank, $16M: Senior loan
- Opportunity Zone Equity, $18M: Sourced by Great Expectations


