Dominium Secures Financing for Seattle Affordable Housing

Plans for the 95-unit project call for an early 2024 completion.

DESC Burien rendering. Image courtesy of Dominium

Dominium, in partnership with Seattle’s Downtown Emergency Services Center, has closed on financing for DESC Burien, a 95-unit fully affordable development in Burien, Wash.

Dominium will offer pro-bono development services for the construction and DESC will self-manage the property. The $38.5 million project is slated for completion in spring 2024.

SMR Architects, First American Title, Absher Construction and Kantor Taylor are the other development and financing partners involved in the project.

DESC Burien will provide supportive services and will follow housing-first treatment principles. The community is designated for residents with behavioral health needs, substance use disorders and mental illness. A total of 25 units will be set aside for veterans experiencing homelessness. The support services will be paid for through cash flow from developer fees, public funding contracts and building operations.

The property will include an outside courtyard, lobby areas, administrative and counseling offices, a kitchen and meeting rooms. The community will also feature on-site property management, 24/7 staff, therapeutic groups, crisis management services and on-site case management.

Funding affordable housing near Seattle

The project will be funded by public sources such as the Washington State Department of Commerce Housing Trust Fund and the King County Housing Finance Program.

Some financing sources include:

  • 95 King County Housing Authority vouchers
  • $5.2 million awarded by King County Housing Finance Program
  • 9 percent LIHTC and allocated to Heritage Bank through a partnership sponsored by Enterprise Housing Credit Investments

DESC Burien will be required to preserve the affordability for 50 years, undergo annual unit inspections and submit tenant eligibility paperwork every year. DESC Burien is designated for residents earning 30 or below of the area median income.

DESC acquired the development site last year for $1.9 million. Located at 801 SW 150th St., the lot is close to the junction of route 509 and 518, south of downtown Seattle and not far from the the Seattle-Tacoma International Airport. There are several dining options, schools and retail centers in the area, including Burien Town Plaza. Saint Anne Hospital is 1.2 miles away.

Dominium, in a partnership with Jefferson Center of Medical Health, has recently started construction on another supportive housing community, in Lakewood, Colo. The $21 million development will offer 40 affordable units.

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