Spokane-based affordable housing developer, SRM Development, has partnered with the Urban League of Metropolitan Seattle to construct a 207-unit apartment complex in North Seattle. The eight-story building, named Altaire at Jackson Park, will be conveniently located less than a mile from the upcoming Shoreline South/148th Link light rail station.
In late 2023, SRM and the Urban League acquired the property at 14343 15th Ave. NE for $6.8 million. The project has received financial support from various sources including a $30.3 million loan from Seattle’s Office of Housing and an $8 million contribution from Amazon’s Housing Equity Fund as reported by Puget Sound Business Journal.
Additionally, Washington State Housing Financing Commission provided tax-exempt bond financing worth $50 million for this development project designed by Olson Projects and built by SRM with construction lending assistance from Citibank.
Earlier this year in September, these two partners collaborated on another successful venture – constructing new headquarters for Urban League on a spacious 1.19-acre site within Seattle’s North Rainier Urban Village area.
