Seattle, WA – Seattle Chinatown International District Preservation and Development Authority (SCIDpda) closed on the construction financing on “Building A” of the North Lot project, a seven-story multifamily apartment building with 160 rent-restricted affordable apartments units; a 10,000 square foot childcare center; and a 25,000 square foot dedicated for community benefit on the 3-acre northern lot of the Pacific Tower campus. Financing for Building A of the project closed on October 21, 2022, and construction broke ground on October 31, 2022 and is projected to finish in August 2024.
“This is a complex project that would not have been possible without the willingness and collaboration of our funders and partners,” said Jamie Lee, Co-Executive Director at SCIDpda. “It truly takes a village.”
“We are excited to move forward on this phase of the project, and look forward to ensuring families in our communities can continue to live in this high-access area near services and amenities,” said Jared Jonson, Co- Executive Director at SCIDpda.
The North Lot project will demolish a parking lot and small storage building, and will eventually include two buildings: Building A and Building B. Building B will also be a seven-story multifamily apartment building, adding 110 units of affordable family apartments to the area (and bringing the count of units at the North Lot project to 270 in total). SCIDpda intends to commence the construction of Building B in 2024, when Building A is near completion.
To support the growing need for deeper affordability in the area, 70% of the units will be restricted to tenants with household incomes at 50% of the Area Median Income (AMI). The remaining 30% of the units will be restricted to tenants with household incomes at 60% of AMI. Identifying the needs of larger multigenerational families in the area, 21% of the units will be sized at three- and four- bedroom and 32% of the units will be two-bedroom. José Martí Child Development Center will operate a 10,000 square foot early childhood education center on the ground floor. A separate 25,000 square foot space will be leased to another organization for community benefit.
“We are honored to partner with SCIDpda to develop affordable housing on the historic landmark Pacific Tower campus, said John Kim, Executive Director of the Pacific Hospital Preservation & Development Authority (PHPDA). “SCIDpda’s commitment to community and to social justice is in their DNA and we are confident that by their active engagement, they will add considerable value to Beacon Hill and the CID for years to come.”
SCIDpda is an organization with a history of providing culturally competent services to immigrants and communities of color. It is the owner and property manager for the project and leads on asset management and community engagement efforts. As co-developer, Edge Developers provides construction management services and a performance guaranty on the project. Weber Thompson is the architect and Marpac Construction is the general contractor.
This development is made possible through a partnership between the PHPDA, the landowner and campus steward, Seattle Office of Housing, and a development team led by SCIDpda and Edge Developers. Construction financing is provided by JPMorgan Chase and Bellwether Enterprise Real Estate Capital, and equity is provided by JPMorgan Chase and Enterprise.
Also under construction is 13th & Fir Family Housing, a mixed-use building developed by SCIDpda and Community Roots Housing in Yesler Terrace with 156 units of affordable apartments and early learning scheduled to open in Spring 2023. SCIDpda has also developed International Village Square (IDVS) I & II, two projects that transformed the southern edge of the Chinatown International District (CID) by adding housing and services and set the precedent for the organization to design and build larger apartment units to accommodate larger family-sized households. The North Lot’s two-, three-, and four- bedroom units continue SCIDpda’s legacy of developing projects that preserve the economic and racial diversity of the area.
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About SCIDpda Seattle Chinatown International District Preservation and Development Authority (SCIDpda) is a community development organization whose mission is to preserve, promote, and develop the Seattle Chinatown International District (CID) as a vibrant community and unique ethnic neighborhood. Formed by the community in 1975, SCIDpda works to revitalize and preserve the neighborhood by providing services in three primary areas: affordable housing and commercial property management, community economic development and community engagement, and real estate development. SCIDpda has 45-plus years of experience in increasing neighborhood sustainability through innovative programs and projects that balance development and preservation. scidpda.org
About PHPDA The Pacific Hospital Preservation & Development Authority (PHPDA) partners with community organizations to improve access to health care services in King County. In 1981, the City of Seattle chartered PHPDA to steward the historic landmark Pacific Tower Campus. Through lease revenues generated by the property, PHPDA works to advance health equity for residents of King County through the Health Equity Fund community grant program, selective Campus programming, and upstream systemic change with a particular emphasis on serving communities of color, those traditionally uninsured and underinsured, immigrants and refugees, linguistic minorities, and economically challenged persons. phpda.org
