Affordable Housing - Seattle

Hunt Mortgage Procures $44M for Seattle Community
Soma Towers consists of two buildings offering 276 units, of which 20 units are affordable. Soma Towers Phase II was developed by Soma Towers DE LLC, in 2016.
Affordable
Lake Union Partners Acquires $23M MidTown Center
The company partnered with Forterra to develop the site and plans to include approximately 520 to 555 apartments. Approximately half of the units will be affordable.
Market Rate
New Financing Tool for TODs
The new Regional Equitable Development Initiative Fund (REDI) will support affordable housing options located near public transit in metro Seattle, where low-cost apartments are increasingly hard to find.
Affordable

  • Hunt Finances 2 Multifamily Properties in Seattle-Area

    Arete and Green Leaf at Lakewood benefited from two loans totaling $61.5 million.

    16 November 2016 14:04

  • Legacy Partners Closes Sale of Seattle-Area Apartments

    The 117-unit asset is reportedly the most amenitized apartment community in Redmond, Wash.

    09 November 2016 14:59

  • Avanath Capital Closes $85M Workforce Housing Deal

    The institutional manager purchased properties in Seattle and Fort Lauderdale, two growing markets with a shortage of affordable housing supply.

    11 October 2016 18:03

  • Mercer Island Apartment Development Starts Pre-Leasing

    The 209-unit community from Legacy Partners is scheduled for completion later this year.

    12 August 2016 07:35

  • Vitus Group to Revamp Six Affordable Housing Properties

    The national developer will invest millions in the restoration of more than 1,000 residential units and will add active design features meant to encourage a healthy lifestyle.

    11 July 2016 12:28

  • Five Cutting-Edge City Initiatives in Affordable Housing

    We’ve identified five of the newest or most creative local initiatives to deliver more affordable housing units to the renters who need it.

    12 May 2016 08:24

  • Boston Capital Invests in Affordable Community in Seattle

    Boston Capital is investing in the groundbreaking of workforce housing.

    09 October 2015 18:04

  • Tacoma Refinanced as Pacific Northwest Struggles with Affordable Housing Stock

    As cities in the Pacific Northwest are striving to boost their affordable housing stock, Walker & Dunlop, Inc. is increasing its activity in the sector.

    01 September 2015 03:50

  • Seattle Project Gets a Head Start on New Affordability Agenda

    As Seattle struggles with housing affordability issues, Mayor Murray is striving to put in place legislation.

    24 August 2015 12:44

  • Amstar, Kōz Bet Big on Small Apartments in SLU

    Right when it seemed like South Lake Union had run out of land, Amstar flew in and acquired a small parcel that will be transformed into a new apartment building. The Denver-based real estate investment manager will reportedly work on the new project with Snohomish-based Kōz Development.

    24 July 2015 05:21

  • Bellevue Gives Multifamily Developers a Tax Boost

    The City of Bellevue recently adopted an important piece of legislation which should prove vital to the area’s housing market. Bellevue follows suit to a number of Washington cities that have already used the measure to improve the situation of their housing markets. With neighboring Seattle in a constant search for the best scenario for its affordable housing situation, Bellevue is accessing a tax break that is available to a number of cities in the state.

    03 July 2015 11:04

  • Berkadia Provides Financing for Affordable, Student Communities in Greater Seattle

    Berkadia’s local office recently announced that it has arranged financing for two residential communities located in the greater Seattle area. The student housing property and affordable housing property are located in Lynwood and Maple Valley, respectively. The commercial real estate company originated a total of $15.3 million in financing for the assets, in both cases the funds being provided through fixed-rate loans. Both deals were handled by Senior Vice President Jeff Stuart.

    12 May 2015 04:55

  • Enterprise Community Investment Marks 2,000th LIHTC Investment

    Cheryl Chow Court, located in the Ballard neighborhood of northwestern Seattle, offers 50 studio and one-bedroom affordable apartments for formerly homeless and low-income seniors in an area undergoing a boost in development of luxury, market-rate apartments.

    30 April 2015 13:43

  • New Legislation Allows Uptick in Affordable Housing, Though City Far Behind Current Target

    King County recently passed new legislation regarding affordable housing, paving the way for the addition of nearly 900 new units during the following five years. Due to measures taken by the State Legislature, the county will now be able to issue workforce-housing bonds worth up to $45 million. The bonds will be backed by the local hotel tax, and will support homes located within at least a half-mile from a transit station.

    29 April 2015 04:39

  • Publix Hotel Building to be Redeveloped as Multifamily Property

    Financing is now in place for the redevelopment of a Seattle multifamily property as Berkadia recently announced that it has provided construction funding for the Publix Apartments. The financing provider, a joint venture of Berkshire Hathaway and Leucadia National Corporation, worked on behalf of Publix, LLC to secure around $26 million. The company is converting a former hotel into a market-rate housing community in the Seattle’s Historic International District. The financing was arranged by Vice President Rob Affleck of Berkadia’s Camas, Washington office.

    16 February 2015 06:06