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.

King County One Night Count

Posted by beacon on Tue, Feb 2, 2016 at 10:32 AM

Advocacy, Beacon, Special Needs, Washington

Each year in January the Seattle/King County Coalition on Homelessness sponsors the annual One Night Count of homeless people in King County, Washington. Over 1,100 volunteers come together and fan out across the county to count the number of men, women, and children who are homeless and sleeping outdoors without shelter. At the same time, staff at agencies operating shelters and transitional housing account for people staying in their programs. The resulting numbers are critical to understanding the magnitude of homelessness in this region and to crafting strategies and solutions to this problem.

Beacon staff gather at 2am in Capitol Hill, Seattle to begin One Night Count

Beacon staff gather from 2:00-5:00am each year to participate in the One Night Count. According to the Coalition on Homelessness the number of unsheltered homeless people counted this year totaled “at least 4,505 men, women, and children. This number is an increase of 19% over those found without shelter last year. This number is always assumed to be an undercount, because we do not count everywhere, and because many people take great care not to be visible.” Complete statistics from the count can be found here.

These numbers are sobering news for the Seattle/King County region and underpin the urgent need for aggressive solutions to homelessness. Through its volunteer and professional efforts, Beacon Development Group will continue to advocate for more resources to address the number of unsheltered people in Seattle/King County, such as the renewal of the Seattle Housing Levy later this year, and will continue to partner with clients to build quality, safe, and decent affordable housing to permanently transition people and families off the streets.

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.

Affordable Housing & Transit

Posted by beacon on Thu, Dec 17, 2015 at 6:11 PM

Advocacy, Beacon, Washington

Brian Lloyd, Development Director at Beacon, recently participated in a Housing & Transit panel discussion sponsored by the Housing Development Consortium of Seattle-King County. Moderated by Bill Rumpf of Mercy Housing NW, other panelists included Claudia Balducci, Mayor of Bellevue, Rep. Jessyn Farrell, State Representative 46^th District, and Tony To of HomeSight.

Beacon is currently working on several Seattle Transit Oriented Development (TOD) projects: El Centro de la Raza’s Plaza Roberto Maestas in Beacon Hill, Mt. Baker Housing’s redevelopment of Mt. Baker Village in the Mt. Baker Station Area, and the construction of affordable housing in the Northgate neighborhood. Each project and neighborhood is different, but common themes exist across all affordable TOD work in Seattle.

With Sound Transit 3 on the horizon and the State Legislature recently enacting policy opportunities and tools for advancing affordable housing near transit, this is a very exciting moment in the region’s history. Therefore the key thread of the panel was recognizing and overcoming barriers by enacting tools locally to create affordable housing around transit centers. Panelists touched on the following topics.

The Impact on Place and Community Engagement: TOD can have a significant impact on place, and therefore requires an early and long-term investment in community engagement and planning. Neighborhood plans, equity and a mix of uses all need to be respected and embraced.
Request for Proposals (RFPs): Panelists were concerned with how RFP processes in station areas are created. Involving communities early is essential to ensure their desires are reflected in the documents, but this must also be balanced with allowing flexibility for developers to creatively achieve goals and outcomes.
Transit Corridors: What is our definition of TOD? Due to escalating land prices directly around Light Rail Stations, developers must also look at the corridors that feed high capacity transit, such as frequent bus routes. PSRC’s Growing Transit Communities Partnership offers strategies for communities to use in planning along transit corridors.
Surplus Properties: Having a plan in place for using surplus properties for affordable housing is essential in this conversation, and new tools will make it easier to access land near transit stations. As part of Sound Transit 3, the legislature required Sound Transit to implement a regional equitable TOD strategy, including offering 80% of surplus property for the purpose of developing affordable housing (either for sale, for long-term lease, or at no cost) .
Land Acquisition: Land for TOD can be expensive. The Regional Equitable Development Initiative (REDI) Fund is one source for nonprofits to finance land acquisition in TOD areas. However, questions remain related to coordination between land acquisition funding and permanent funding.
“Right-Sizing”: Right-sizing parking and commercial uses in TOD is an essential part of the development process and every neighborhood is different. There has recently been a lot of support for early studies of these issues in non-profit projects around the City of Seattle.

Both policymakers and developers stressed that a deeper level of conversation around these issues must take place for TOD barriers to be effectively overcome. Policymakers urged developers and advocates to develop as much consensus as possible in order to leverage policy making opportunities. The developers on the panel stressed that early involvement is key to success of TOD as well as flexibility around the deployment of funds, both in terms of incomes served and uses allowed in developments (i.e. the mix of housing, commercial and community space).

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.

Q&A with New Beacon Staff

Posted by beacon on Tue, Oct 20, 2015 at 8:37 AM

Beacon, Washington

Over the summer Barry Baker joined Beacon Development Group as one of its newest Senior Housing Developers. Now that we’ve had a chance to get to know him, we thought you might enjoy doing so, as well!

You joined Beacon over the summer. How are you settling in to your new city?

After four months with Beacon, my wife of 21 years and I have finally permanently relocated to Seattle. I am not going to lie – selling our house in Boise and commuting temporarily from Bainbridge Island while she was still in Idaho was not easy. So, now that we are together again and I have a 20 minute walk to enjoyable and satisfying work at Beacon, life is good!

Do you have a favorite thing or place in Washington State yet?

I think my favorite thing about Seattle is the Puget Sound. I love traveling and exploring Washington. Since I have been in Seattle, I have explored Port Townsend, Port Angeles, Crescent Lake, Forks and La Push (looking for vampires and werewolves), Fort Gamble and Kingston, Victoria, BC, Deception Pass Bridge, and Whidbey Island. I have walked barefoot on Alki Beach. Someday soon I would like to return to boating and explore the Puget Sound by boat as much as I can.

What do you like best about affordable housing project management at Beacon?

I like the diversity of work here. In other real estate jobs I have held, I have always worked for just one owner. Here at Beacon, we have many different owners/clients, each with different kinds of projects. From downtown towers to agricultural worker housing in rural Washington, there is really a range of building types and populations served by Beacon’s clients.

You have deep experience in all facets of the real estate industry – development, management and software development. How does this rich and varied experience inform your project management day-to-day now?

I started my career in the real estate industry as a real estate broker for a commercial real estate brokerage and management company in Eugene, Oregon. After a short stint selling and leasing commercial real estate, I ended up running the property management arm of the company. Then, I moved to Boise to work for a development company that helped shape the downtown by using the affordable housing tool box to bring downtown Boise its first full-time residents. I have learned that there are many different solutions to solving real estate problems, such as using debt or leases in lieu of equity, exchanging real estate to avoid taxation, cross collateralization to improve lender security, or land donations to improve seller proceeds.

How do your projects/clients at Beacon differ from your projects at your last job in Idaho?

In my last job, our tendency was to develop garden style apartments of a particular size and architecture suited for rural areas. This is the typical product type that gets funded in the various states where we worked. At Beacon, it is fun to work on differing product types such as the five stories of wood frame over two floors of concrete so common to Seattle.

Is the affordable housing funding landscape in WA State very different from that in Idaho (or other areas you have worked)?

I have primarily worked in Idaho, Nevada, North Dakota, and Louisiana. Washington is very different than all of these states – in a good way. There are so many different funding sources here and this allows for a greater variety of project outcomes. Politically, affordable housing is also a high priority here, while in other states it can unfortunately be seen as a necessary evil.

What do you like to do in your free time when not managing projects for Beacon and its clients?

I used to be a big basketball player, but after being sidelined by a hand injury I switched to soccer. Now that I no longer have the Bainbridge Island commute, I hope to return to the gym and find a soccer team to join here in Seattle.

I have also owned a motorcycle for most of my adult life. Currently, I ride a Harley Davidson. As Johnny Cash would sing, “I’ve been everywhere, man!”

Housing Washington

Posted by beacon on Mon, Oct 12, 2015 at 6:54 AM

Beacon, Washington

Beacon was privileged to take part in Washington State’s preeminent affordable housing conference, Housing Washington, again this year. We had a great time seeing everyone in Spokane and attending the various sessions. Congratulations again to our raffle winners, Doug Ito from SMR Architects and Heather Elliott from Cushman & Wakefield! See you again in 2016!

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.

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