Pike Place Market Closes Housing Financing

Posted by beacon on Tue, Mar 8, 2016 at 6:14 PM

Senior Housing, Sustainable Buildings, Urban/Mixed Use, Washington

Overhead view of the MarketFront site in construction with slab on grade nearly complete

Last month the Pike Place Market Preservation and Development Authority (PPMPDA) successfully closed its financing for the $9.6 million Western Avenue Senior Housing, the residential component of their ongoing $73 million MarketFront development project. As development consultant on Western Avenue Senior Housing, Beacon Development Group assisted the PPMPDA in assembling and closing the complex financing from U.S. Bank Community Development Corporation, the City of Seattle, the Washington State Housing Finance Commission and King County. The Miller Hull Partnership designed the project.

Meanwhile, Sellen Construction poured the final slab on grade for the MarketFront project in mid-February. Reaching this construction milestone was significant because it triggers the construction of the elevated decks of the garage structure, atop which the 40-unit residential structure will eventually be built to house low-income seniors.

Now with financing in place, construction on the housing can begin in May, with completion scheduled for December 2016. The 40 apartments will be available to seniors making up to 30% and 50% of area median income, with seven of the units designed to accommodate low-income senior artists and vendors.

PRM Reaches 50% Complete!

Posted by beacon on Tue, Jan 26, 2016 at 1:36 PM

Construction, Family Housing, Sustainable Buildings, Urban/Mixed Use, Washington

Panoramic view looking south into the central plaza of Plaza Roberto Maestas

Plaza Roberto Maestas (PRM), El Centro de la Raza’s flagship mixed-use affordable housing development in the Beacon Hill neighborhood of Seattle, recently reached 50% construction completion during the month of December 2015! With siding going up on the West Building and framing nearly complete on the East Building, the project is on track for completion by this summer.

View of the East Building at Festival Street (S Lander) & 17th Ave S

The $45 million project consists of two buildings including 112 apartments for low-income families and 25,000 square feet of commercial space including a child care center, community center, office space and neighborhood retail space. Both buildings are oriented around a central plaza for residents and community members to enjoy and are located directly across the street from the Beacon Hill Light Rail Station. Named for Roberto Maestas, founder of El Centro de la Raza, PRM realizes a decades-long dream of the organization to build new affordable housing and community space next to their schoolhouse headquarters.

Beacon has been working with El Centro de la Raza to realize the vision of Plaza Roberto Maestas since 2011, collaborating to structure and close the project’s financing, managing design development and permitting, and now overseeing construction. Funders for PRM include U.S. Bank, City of Seattle, State of Washington, Washington State Housing Finance Commission, Washington Community Reinvestment Association, and El Centro de la Raza’s capital campaign. PRM is designed by SMR Architects and the General Contractor is Walsh Construction, Co.

For more information on the project including monthly construction updates and capital campaign progress, please visit the Plaza Roberto Maestas website.

Ronald Commons Breaks Ground!

Posted by beacon on Fri, Nov 27, 2015 at 9:41 AM

Family Housing, Special Needs, Sustainable Buildings, Urban/Mixed Use, Washington

Breaking Ground

On October 12^th, Compass Housing Alliance’s Compass at Ronald Commons project in Shoreline, WA broke ground and started construction. Ronald Commons is an affordable housing project with an on-site 12,000 square foot Integrated Service Center, including a food bank owned and operated by Hopelink. Slated for completion in late 2016, Ronald Commons will offer services and permanent, affordable housing to sixty formerly homeless and low-income households, including families and veterans. All apartments will be affordable to residents making between 30 percent and 50 percent of area median income.

Beacon is providing development services on the project. Other partners include Ronald United Methodist Church, Walsh Construction Co., SMR Architects, and Third Place Design Co-Operative.

View of Compass at Ronald Commons from Linden Ave.

“Compass Housing Alliance is very excited to be developing our first permanent housing facility in Shoreline to meet the need for affordable housing. Ronald Commons will be within a community where residents can access multiple supports on their path to stability as well as the schools, arts, and other amenities that make Shoreline such a wonderful place to live,” said Janet Pope, Compass Housing Alliance Executive Director.

The vision for Ronald Commons began five years ago with the Ronald United Methodist Church. Through a unique partnership between the Church, Compass Housing Alliance and Hopelink, the Ronald Commons project will be built adjacent to the Church, which will also complete a remodel that expands space for community partners and furthers its mission of community outreach.

Plaza View of Compass at Ronald Commons

To finance Ronald Commons, Compass Housing Alliance received a combination of funds and support from the City of Shoreline, King County Housing Finance Program, King County Veterans and Human Services Levy, WA State Housing Trust Fund, WA State Housing Finance Commission, Impact Capital, National Equity Fund, Bank of America, Home Depot Foundation, LISC/Met Life, McEachern Charitable Trust, WA State Department of Commerce, and the Sambataro Family Foundation.

Beacon is proud to be affiliated with Compass Housing Alliance and this exciting project!

Beacon’s Asset Management Services

Posted by beacon on Wed, Nov 18, 2015 at 12:36 PM

Agricultural Workers, Asset Management, Sustainable Buildings, Washington

Earlier this year Catholic Charities Housing Services (CCHS) of Yakima was profiled by the Washington State Housing Finance Commission for their “smart, sustainable practices in affordable housing.” We are proud to be affiliated with CCHS and the great work they do, both in developing new housing and crafting forward-thinking approaches to the preservation of their older apartments.

Over the last several years CCHS and Beacon have partnered on a variety of creative asset management projects, in addition to the developing new agricultural worker communities together. In 2011-12, aided by a MacArthur Grant through the Housing Trust Fund of the State of Washington, we helped CCHS conduct an asset management analysis of their smallest and oldest properties, including a “green analysis” of each.

The resulting Portfolio Preservation Plan revealed some surprising truths related to the use and cost of water and energy at each property. For example, at some properties water accounted for up to 95% of overall utilities costs. And at many buildings, the local public housing authority utility allowances did not accurately reflect the actual electricity usage at CCHS properties, essentially overpaying tenants thousands of dollars a year in utility reimbursements.

Holly Anderson, Asset Manager at CCHS, quickly got to work implementing several changes. Under her guidance, CCHS examined water use both inside and outside of buildings, as well as the local municipal water rate structure of each community. Where it was beneficial given the rate structure, low-flow fixtures were implemented and in-unit laundry removed throughout older properties first. Holly also ordered extensive Landscape CNAs resulting in recommissioned irrigation systems and improved bilingual irrigation manuals; both changes conserving water and saving thousands of dollars at some properties.

In 2014 Beacon assisted CCHS in working with the WSHFC to change the utility allowance structure on several properties away from the local public housing authority allowances, since these did not match up well with the actual tenant electricity expenditures at each property. Beacon assisted with gathering twelve months of continuous electricity data on all households and presented the data and changes to the WSHFC on behalf of CCHS, in compliance with the State regulations. As a result CCHS generates an additional $4,000 to $7,000 in operating revenue per year at each property, greatly impacting the financial integrity of each small community, making things like consistent reserve payments and property upkeep much more possible.

CCHS property management staff took great care to provide adequate notice of the changes to tenants, both in English and Spanish, explaining the reason for the change since rents were increasing. Holly reports that “There was some pushback, but there hasn’t been a single complaint that has gone past our property management. Tenants may not like the increase, but it is well explained: They’ve been underpaying on their utility allowance for a certain number of years, and now we’re just matching their allowance to what they’re actually spending.”

It was a pleasure for us to assist CCHS on these asset management projects. Beacon enthusiastically undertakes these assignments with current and longstanding clients whenever possible, reflecting our deep commitment to the entire life cycle of affordable housing projects with our clients.

Congrats Harbor View Manor!

Posted by beacon on Mon, Nov 2, 2015 at 6:32 AM

Acquisition/Rehab, Awards & Recognition, Occupied Rehabs, Sustainable Buildings, Washington

Harbor View Manor, located in Tacoma, WA, was recently awarded a 2015 Excellence in Affordable Housing Award for Sustainability by the Tacoma/Pierce County Affordable Housing Consortium. Harbor View Manor is owned by Beacon Communities. Beacon Development Group served as development consultant on the acquisition and rehabilitation of the project. Walsh Construction Co. was the General Contractor and SMR Architects served as the architects.

MarketFront’s Senior Housing

Posted by beacon on Fri, Oct 2, 2015 at 2:54 PM

Senior Housing, Sustainable Buildings, Urban/Mixed Use, Washington

Many people think of the Pike Place Market only as a wonderful place to shop locally or as a tourist destination. While these attributes are certainly core to its identity, the iconic Seattle institution, governed by the Pike Place Market Public Development Authority (PPMPDA), is also a developer and manager of rental housing at the Market, most of which is reserved for low-income seniors in the Seattle community.

Western facade of MarketFront (housing on right)

In May the PPMPDA broke ground on their latest $73 million redevelopment project called MarketFront. The Market-centric project will convert a .75-acre surface parking lot on Western Avenue into a dynamic public plaza with fantastic views of Puget Sound and Olympic Mountains, table space for farmers, craftspeople and artisan purveyors, commercial space, low-income housing, a neighborhood center, and 300 public parking spaces. The 40 low-income housing apartments in this project will serve seniors making up to 30% and 50% of Seattle’s area median income, or $18,840 and $31,400 respectively.

Housing Social Service with parking P 11.07.14

Western Avenue Senior Housing – Image credit Miller Hull Partnership

Beacon is privileged to serve as a consultant to the PPMPDAon the $9 million low-income housing portion of MarketFront. Beacon has assisted the PPMPDA in assembling financing for this exciting project including securing an award from the City of Seattle Housing Levy, and is currently working with them to identify a Low-Income Housing Tax Credit investor for the project. Working with the Miller Hull Partnership throughout design development, we have provided feedback on the design of the senior apartments based on our deep experience with this type of housing. Once in construction, Beacon’s Construction Manager will attend weekly construction meetings to ensure adherence to the Evergreen Sustainable Development Standard criteria and to monitor overall construction progress.

Aerial photo of MarkeFront site work – Sept. 2015

As of this month, mass excavation on the MarketFront project is nearly complete. Construction on the senior housing is slated to start in April 2016 and wrap-up by the end of the year, with the entire project coming online in 2017. Sign up for detailed construction updates on Sellen Construction’s project website and consider donating to the MarketFront’s Pike Up! capital campaign, to ensure the long term success of this wonderful project.

During a time of unprecedented lack of affordable housing in Seattle, it is bold new projects like MarketFront that will continue to ensure a sustainable lifestyle without a car for downtown residents, and a City that is affordable to everyone.

A Commitment to Agricultural Worker Housing

Posted by beacon on Tue, Sep 22, 2015 at 4:31 PM

Agricultural Workers, Family Housing, Project Openings, Sustainable Buildings, Washington

Beacon has a long history of working with clients to develop permanent agricultural worker housing across Washington State, having developed over 950 apartments for these vital workers since 1999. As Washington continues to experience labor shortages during peak harvest times, according to the most recent annual 2013 Agricultural Workforce Report, the quality and stability of this kind of housing is absolutely essential to the health of our State’s economy.

Over the summer Beacon celebrated the opening of Varney Court, its latest agricultural worker project undertaken in partnership with the Housing Authority of the City of Pasco and Franklin County (HACPFC). Located at the intersection of 4^th and Pearl in Pasco, WA, the project features 38 apartments spread across seven buildings around a central courtyard, community building and playground. The two-, three- and four-bedroom apartment layouts and child-focused amenities were specifically designed for families working in the local agricultural industry.

“We are very pleased to be able to offer these new apartments to families working in the region’s agricultural industry,” stated Andy Anderson, HACPFC’s Executive Director. “Far too often these families are forced to live in unacceptable conditions. Varney Court provides families a safe and decent place to live so their children can live happy, healthy lives in our great city.”

ZBA Architects designed the community and Walker Construction served as the general contractor. Beacon Development Group provided development services and Foster Pepper PLLC provided legal services. Other engineering and design team members were: AHBL, Coffman Engineers, Fulcrum Environmental Consulting, and Baer Testing. Cascade Management is providing property management services.

The total development cost was approximately $8.5 million. Funders included the Washington State Housing Trust Fund, the Washington State Housing Finance Commission, National Equity Fund, Wells Fargo and Impact Capital. The City of Pasco also provided $50,000 of Community Development Block Grants to pay for street improvements along Pearl Street.

“This community exemplifies what the State and local jurisdictions can do when they work together to support affordable housing,” said Paul Purcell, President of Beacon Development Group. “In particular, the project wouldn’t have been possible without the support of the State legislature and the Housing Trust Fund.”

Beacon congratulates the HACPFC and the Pasco community on another successful project!

PRM Reaches Important Construction Milestone

Posted by beacon on Tue, May 19, 2015 at 12:18 PM

Construction, Family Housing, Sustainable Buildings, Urban/Mixed Use, Washington

Concrete Footings on the East Building of PRM

As of today, all of the concrete footings for El Centro de la Raza’s Plaza Roberto Maestas (PRM) are poured! The Walsh Construction team has been fortunate to have only a few days of wet weather since work began on April 10^th. This has allowed for quick movement through demolition, excavation and concrete work. It also means we are through the dirt portion of the project with relatively few surprises – a great place to be early on in a large development like PRM!

PRM is an exciting new mixed-use transit oriented community featuring 112 units of affordable housing, a seven classroom expansion for El Centro’s Jose Marti Child Development Center, a multi-cultural community center, neighborhood retail/restaurant space, office space and a central plaza for micro-business, events and enjoyment of the surrounding campus and community. Most of the apartments at PRM will be two- or three-bedrooms to address the critical shortage of affordable family-sized rental housing in the City of Seattle.

Plaza Roberto Maestas will be complete in July 2016. Please visit the project website here for more information.

West Building Festival St Facade Web Edit

West Building Festival Street Facade – Future Neighborhood Retail/Restaurant Space(s)

Casa Kino Featured in Affordable Housing Finance Magazine

Posted by beacon on Fri, Nov 14, 2014 at 1:52 PM

Agricultural Workers, Family Housing, Press, Sustainable Buildings, Washington

Washington Developer Continues to Serve Farmworkers

By, Christine Serlin

Central Washington state has a robust agriculture industry, accounting for 20 percent to 25 percent of the region’s total economy.

Farmworkers are a critical part of that economy, handpicking crops, such as asparagus, cherries, and apples. But affordable housing can be scarce in rural areas, and these needed laborers are forced to live in overcrowded or unsafe conditions.

But Yakima, Wash.–based Catholic Charities Housing Services (CCHS) is helping to provide more safe, affordable housing opportunities for farmworkers one project at a time in the seven-county area where it works.

“The need for farmworker housing is acute throughout central Washington,” says CCHS director Bryan Ketcham.

To read the whole article click here.

HACPFC’s Fourth & Pearl Family Housing Breaks Ground

Posted by beacon on Mon, Nov 3, 2014 at 2:56 PM

Agricultural Workers, Construction, Family Housing, Sustainable Buildings, Washington

Housing Authority of the City of Pasco and Franklin County’s vacant Fourth & Pearl site before construction started

Over the summer the Housing Authority of the City of Pasco and Franklin County (HACPFC) broke ground on their newest community located at the intersection of Fourth Avenue and Pearl Street in Pasco, WA.

According to Andy Anderson, Executive Director of the HACPFC, “We are eager to bring quality affordable housing to Pasco. The new community, Fourth and Pearl Family Housing, is being developed on land owned by the Housing Authority for more than 60 years. It has stood vacant for more than 40 years, since the former World War II Navy housing was demolished. We are pleased to help the City of Pasco improve one of its gateways to downtown Pasco by building this new community.”

The new 40-unit community is designed to accommodate large families with 24 two-bedroom units, 12 three-bedroom units, and two four-bedroom units. Thirteen apartments will be rented to families who earn less than 40% of area median income (AMI) and twenty-five apartments will be rented to families who earn less than 50% of AMI.

The Housing Authority will market the project to agricultural workers employed in the Pasco community and surrounding areas. Far too often these hardworking families live in dilapidated and substandard housing.

ZBA Architects designed the project and Walker Construction is the general contractor. Beacon is providing development services. Cascade Management, Inc. will be the property manager.

Numerous public and private sources provided funding for the project. Wells Fargo is the construction lender. The Washington State Department of Commerce contributed $5 million from the state Housing Trust Fund. The Washington State Housing Finance Commission provided 4% Low Income Housing Tax Credits that the National Equity Fund purchased in exchange for $2.9 million in equity. And the City of Pasco supplied $50,000 of Community Development Block Grant funds to support public infrastructure around the project.

As of September HACPFC was 40% complete on the construction of Fourth and Pearl Family Housing and is looking forward to opening in the spring of 2015!

Fourth & Pearl Family Housing – 40% Complete

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Washington Developer Continues to Serve Farmworkers