Rainier Place

Rainier Place is a 181-bed student apartment community developed through a Public-Private Partnership using tax-exempt 501(c)(3) bonds and private-sector development expertise. It was conceived of as a way for Edmonds Community College to offer on-campus housing to its growing population of international students. The development team collaborated with College staff to design a building that would meet the needs of its student population, then delivered the project within both schedule and budget. Rainier Place is consistently 100% occupied, with student rent used to pay debt service.

PFG staff led this project while employed at National Development Council (NDC), where they created the Special Purpose Entity that issued bonds and oversaw all project related activities. In 2015, NDC’s Public Facilities development arm left NDC to form PFG. NDC currently maintains ownership of the project on behalf of Edmonds Community College.