**Horizon House Secures $600M for 33-Story Tower Expansion in Seattle**
Seattle’s Horizon House, a retirement community located on First Hill, has secured $600 million in specialty investment bonds to support the development of a 33-story residential tower on its campus at 900 University Street.
The financing was facilitated through the Washington State Housing Finance Commission. Chicago-based specialty investment bank Ziegler served as the pricing agent and intermediary for the bond issuance.
The new development, known as the West Tower, will offer 202 independent living units, replacing the existing 50-unit West Wing. Designed by architecture firm Mithun and constructed by general contractor Andersen Construction, the tower will include one- and two-bedroom units ranging in size from 861 to 2,206 square feet.
The financing includes both short-term and long-term instruments. The short-term fixed-rate Series B bonds are structured to be repaid once the building achieves 80% occupancy. Long-term fixed-rate Series A bonds will be amortized over a 36-year period.
This expansion underscores Horizon House’s ongoing commitment to enhancing senior living options in Seattle.
