Atrium Court, a 271-unit affordable housing and retail space project located in Seattle’s Othello neighborhood, recently held its groundbreaking celebration. The lead developer for this project is Housing Diversity Corporation.
This development is expected to generate 60 construction jobs and 20 permanent jobs through property management and the retail spaces. Allivate Impact Capital and CEI-Boulos Capital Management have jointly sponsored an investment vehicle that has invested $15 million in equity for this project. Additionally, Trez Capital has provided a primary loan of $41 million while the Amazon Housing Equity Fund has contributed a low-interest loan of $16 million.
The team responsible for bringing Atrium Court to life includes STS Construction, Neiman Taber Architects, Quantum Engineering, Sitewise,and KKLA. “We take pride in our partnership with these dedicated individuals who share our vision of creating opportunities through well-designed affordable housing,” stated Brad Padden,Ceoand FounderofHousingDiversityCorporation.
This post originally appeared on Connect CRE.
