Holland Partner Group and EJF Capital plan to break ground thismonth on a mixed-used development in downtown Vancouver,Washington.

Block 10—as the project has been dubbed—will include110 multi-family units with 79,000 square feet of office space andapproximately 10,000 feet of retail space. The project will occupyan acre in a designated "opportunity zone" which will offer taxbenefits to investors through a government program designed to spureconomic growth in low-income areas. Block 10, which is projectedto be complete in the spring of 2022, will join an estimated 19apartment and condos buildings either planned or under constructionin Vancouver, which is experiencing marked population growth partlydue to the lack of a personal or business income tax. The city'swaterfront is undergoing a $1.5 billion revitalization effort alongthe Columbia River, which divides Washington state from Oregon tothe south. Portland Oregon sits across the river fromVancouver.

"Block 10 is a spectacular project, situated in the heart ofdowntown Vancouver on one of the city's last remaining undevelopedblocks," said Neal Wilson, co-chief executive officer of EJFCapital. "It is a prized location that is within walking distanceof an array of amenities including numerous restaurants and bars,retail, entertainment and offices."