SHA joins development partners to build
workforce housing on Qwest Field parking lot
SEATTLE—July
7, 2006—Seattle Housing Authority will contribute its
expertise in low-income housing and its financing capability to a
mixed-use project led by a partnership of the development firm
Nitze-Stagen and OPUS Northwest. The development team was named on
July 5 as the winning proposer to develop a four-acre site located
south of Pioneer Square and north of Qwest Field. The site is
currently being used for surface parking.
The site will
contain 956 condominiums and apartments. SHA will own and manage 140
apartments for moderate-income workers. “We are excited to be part
of this project,” said Executive Director Tom Tierney. “It is an
opportunity to add to our stock of work-force housing.” SHA expects
to contribute tax-credit equity and bond financing to the apartments
it would own and manage.
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The 140
apartments that SHA would develop will include one- and two-bedroom
units with rents ranging from $875 to $1,020 per month.
Pioneer Square Community Association Executive Director
Craig Montgomery, County Councilmember Larry Gossett, County
Councilmember Dow Constantine, Mayor Greg Nickels, and King
County Executive Ron Sims at a press conference this month |
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In all, the
project would include 394 condominiums and row houses, 562
apartments, 1,035 parking spaces and resident-oriented retail and
commercial development in 25,000 square feet of street-level space.
At the July 5
ceremonies at the site, both County Executive Ron Sims and Seattle
Mayor Greg Nickels praised the development team and the concept.
“This has been a vast wasteland of parking,” said Sims, “but it will
be transformed into an extraordinary neighborhood.”
The proposed
development has received enthusiastic support from Pioneer Square
residents, but several organizations that have used the lot for
overflow parking and exhibit space during trade shows are opposing
the project. Sims, however, expressed confidence that the project
would go forward in spite of any opposition. The new development
will double the number of residential units in Pioneer Square.
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