El Centro de la Raza celebrated the Grand Opening of their recently completed Plaza Roberto Maestas – Beloved Community on Saturday, October 1st. The 112 unit project serves a broad range of incomes in 1,
2, and 3 bedroom units adjacent to the Beacon Hill light rail station. Since 2011, Beacon has worked alongside El Centro de la Raza to realize their goal of providing a truly community inspired affordable housing and community space adjacent to their headquarters. The project includes new classroom space for El Centro de la Raza’s Jose Marti Child Development Center, a multi-cultural community center, retail space, office space, and a large public/private plaza.
The residential development cost was approximately $32 million (not including donated land); the project’s total development cost was approximately $45 million. Permanent and construction financing was provided by US Bank Community Development Corporation, the City of Seattle, the Washington State Housing Finance Commission, Washington Community Reinvestment Association, and a private capital campaign. Pre-development funding was provided by Enterprise Community Partners and Impact Capital.
The much needed housing is already 100% leased with a 5-year wait list. Two of the three retail bays are leased to the Seattle Metropolitan Credit Unit and the locally owned café The Station. El Centro de la Raza’s Business Opportunity Center will provide business development courses and micro-lending programs to local small business owners. The project will be a model for community-inspired, transited-oriented development in Seattle.
In addition, Beacon Development Group is happy to announce that we are moving into the project’s office space. We are excited to move to a new home that illustrates our commitment to our work and community. Our move is planned for the end of November – stay tuned for an official moving announcement and our new contact details!
The Grand Opening was a community inspired event attended by Seattle Mayor Ed Murray, City Council members and officials, and members of the Beacon Hill neighborhood. The ribbon cutting was followed by multicultural performances from local groups to celebrate the diversity of Seattle and the mission of the El Centro de la Raza.
It has been our privilege to work in collaboration with SMR Architects, Third Place Design Co-operative, 7Directions Architects, and Walsh Construction Co. We are proud to be part of a team working to expand opportunities for working families and individuals in Seattle. Congratulations to El Centro de la Raza on creating a truly “beloved community”!