Call it gentrification if you like. But change at 23rd and Union continues. Wednesday afternoon, Capitol Hill Housing announced that it has tentatively agreed to acquire the KeyBank building at the intersection with plans to build a mixed-use affordable housing project.
KeyBank at 23rd/Union to be redeveloped as affordable housing
There is more change coming for 23rd and Union. The KeyBank building at the intersection is being acquired by nonprofit developer Capitol Hill Housing and will be redeveloped as “mixed-use and affordable housing,” according to the announcement sent out Wednesday afternoon and posted below.
The bank will continue to operate into April before operations are consolidated at other area branches, according to the announcement.
A bank has operated at the site for decades including the Liberty Bank, started in 1968 as a black-owned bank. more…
The nonprofit Capitol Hill Housing develops and operates apartment buildings across Capitol Hill and Seattle. Its most recent project — The Jefferson at 12th and Jefferson — opened last fall. Its 40 one and two-bedroom apartments are designated affordable — “for workers earning up to $36,000 for a single person or $41,000 for a two-person family (60% of the median income).” The developer’s next big effort will be the 12th Ave Arts building on Capitol Hill that will transform the current East Precinct parking lot into an apartment and office building with a theater facility — and parking for SPD.