SEATTLE—November 10, 2005—In order to insure the on-going stability of its high-rise apartment buildings, Seattle Housing is embarking on an ambitious five-year project called homeWorks to renovate major infrastructure and building systems in 22 buildings located across the city.
According to project manager Stephanie Van Dyke, "We will be concentrating our efforts on replacing water lines and treating building exteriors to correct water intrusion problems. Community room finishes and furnishing will also be upgraded. The work plan will vary slightly for each building."
After a few difficult projects which significantly inconvenienced residents, the Housing Authority re-evaluated its methods for these kinds of renovations. A greater emphasis is now being placed on how the work can be accomplished in the least amount of time with the least disruption to the residents' lives.
To help accomplish this goal, Sven Koehler has been hired as the homeWorks communications liaison. His focus will be on working with both residents and construction workers to make sure that they understand and appreciate each other's needs.
Residents will be kept abreast of the progress of construction in their buildings with regular meetings and updates. Koehler explained, "While there is no doubt that living in a building during renovation can be an inconvenience, I hope that being well-informed helps make it less stressful for residents."
The financing plan for the $33 million project is unusual, in that it combines the use of bond financing and tax-credit equity financing. SHA will issue bonds, using the annual capital grants it receives from HUD to pay the bonds back over time. This allows for economies of scale in completing the project in five years, rather that spreading it over 15. In addition to the bonds, low-income tax credit equity financing will add another $4 - $6 million to the project, enabling additional buildings to be included.
The architect for the homeWorks project is DKA. The General Contractor Construction Manager for the first phase of the project which will involve seven buildings is W. G. Clark Construction, which successfully completed a similar project with the King County Housing Authority in 2005.