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.

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!

National Affordable Housing Advocacy

Posted by beacon on Tue, Sep 8, 2015 at 10:17 AM

Advocacy, Beacon

In late July, Paul Purcell, President of Beacon Development Group, had the pleasure of meeting Julian Castro, United States Secretary of Housing and Urban Development, at the NAHRO (National Association of Housing and Redevelopment Officials) Summer Conference in Austin, TX. Throughout the year Paul travels to conferences such as this to advocate for stronger national and regional affordable housing resources and policies. Also pictured here is Andrew Lofton, Executive Director of the Seattle Housing Authority.

Crafting Unique Solutions to Affordable Housing Preservation

Posted by beacon on Fri, Aug 28, 2015 at 5:18 PM

Acquisition/Rehab, Family Housing, Occupied Rehabs, Senior Housing, Washington

Beacon has a long track record of working with clients to create more affordable housing, both in new construction and in the repositioning of older assets, thereby extending a building’s affordability and useful life. There are typically a host of financial tools available to do this in WA State – from Low-Income Housing Tax Credits (LIHTCs) to State and local dollars such as the Seattle Housing Levy. But over the last several years many of these, especially at the State level, have been under constant threat.

Yet the need for affordable housing keeps growing. As a result, Beacon has worked hard on behalf of clients to turn over every rock for new funding. Two recent examples of projects that utilized groundbreaking “first of its kind” financing in Washington State are Yakima Family Housing in Yakima and Hilltop House in Seattle.

Yakima Family Housing with the Yakima Housing Authority (YHA) was completed in late 2014 and was the one of the first HUD Rental Assistance Demonstration (RAD)-funded projects in WA State. Beacon and YHA worked together to secure the award from HUD and then packaged it with 9% LIHTCs to refinance and renovate 150 units of scattered-site public housing across the City of Yakima. Beacon also served as construction manager, working with YHA to oversee the complex process of tenant relocation and renovation, while ensuring minimal disruption to families and maintaining the tight timeline for LIHTC delivery. Partners on this project include Raymond James, Walker Construction Co., and ZBA Architecture. Kantor, Taylor, Nelson, Evatt & Decina PC provided legal services.

Hilltop House Apts., Hilltop House, Inc.

In May of this year Beacon also started construction on Hilltop House Apartments in the First Hill neighborhood of Seattle. On behalf of this 124-unit non-profit-owned senior project, Beacon secured one of only twelve HUD SPRAC (Senior Preservation Rental Assistance Contract) awards in the United States. Working with CBRE Group, Inc. through its FHA lending program, this unique financing was leveraged to retire existing HUD 202 and Flexible Subsidy loans so that a new permanent FHA 221(d)(4) loan could be used to extensively rehabilitate the property and prevent displacement of low-income seniors. In addition to CBRE, partners on this project include SMR Architects and Walsh Construction Company. Kantor, Taylor, Nelson, Evatt & Decina PC provided legal services.

According to Muriel Cashdollar, Board President of Hilltop House, “Beacon Development has worked tirelessly to help Hilltop House refinance our HUD mortgage, find an architect and a contractor, and manage the entire process. We could not have accomplished our goals without their significant help. Beacon’s experience has made our current construction possible!”

Together these projects represent nearly 275 affordable homes that would not have been preserved without these unique and creative approaches to affordable housing development. Together with our clients, Beacon strives to always secure the right financing for the needs of your project and your tenants.

Welcome J.P. and Barry!

Posted by beacon on Mon, Jun 8, 2015 at 1:26 PM

Beacon, California, Washington

Beacon Development Group welcomes our newest team members, J.P. and Barry!

J.P. Stocco, Deputy Director of Development, CA Office

J.P. leads Beacon’s California Office, overseeing all aspects of planning and development for projects throughout the State. As a member of the Leadership Team, J.P. jointly manages the development pipeline, supervising staff and projects in development. He possesses over ten years of affordable housing project management experience working on complex publicly funded projects across the United States. Prior to joining Beacon, J.P. served as the Senior Acquisitions, Project & Asset Manager for THC Affordable Housing, Inc. in Washington, DC. In this position he established policies and procedures for an asset management system, completed an extensive permanent supportive housing rehabilitation project and one of the first Passive House energy-efficient buildings, and negotiated a successful joint venture with a national for-profit affordable housing developer. As Principal/Broker for Skyline Realty Advisors in California since 2006, J.P. has gained deep experience in financial modeling, budget analysis, construction services, market analysis and lease-up of multi-family development in California. He holds a BS in Business Administration from the University of Southern California and an MBA from the University of California, Irvine. Outside of work J.P. enjoys snow skiing and stand-up paddle boarding with his wife and daughter, and photographing landscapes.

Barry Baker, Senior Housing Developer, WA Office

Barry manages a variety of complex publicly funded projects for clients at Beacon in Washington State. As project manager, he oversees all aspects of development, from feasibility analysis to financial packaging to construction completion and close-out. He brings over two decades of real estate experience to his role at Beacon, having worked in property development, management, finance and software development. Most recently Barry served as Development Officer at Community Development, Inc. in Caldwell, ID, where he managed multi-family affordable housing development projects across the United States. Prior to Community Development, Inc., he invented, brought to market and licensed loan management software for real estate companies and worked as the Director of Finance at Brighton Corporation. At Brighton he was responsible for the sourcing and management of the financing for land holdings and buildings, specializing in big box retail, residential subdivision development, production home building, and office development. Barry holds an MBA from the University of Oregon and a BBA from Pacific Lutheran University. In his free time, Barry enjoys playing soccer, travel and boating.

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