Nonprofit developer Capitol Hill Housing is piecing together an amazing combination of funding sources to drive creation of the 12th Ave Arts project, a mixed-use building planned to replace the East Precinct’s 12th Ave parking lot with affordable apartments, office space and theaters. This week, CHH announced a big date for the project — February 21st will be the groundbreaking ceremony for the one-of-a-kind project. It’s also the final push on the capital campaign to help reach the planned $38 million budget.
“The capital campaign goal is $4.6 million, and to date we have raised more than $3.8 million (80%!) in pledges. The community support for this building has been truly moving,” Capitol Hill Housing’s Michael Seiwerath told CHS late last year.
Here’s the announcement of the final “raise the roof” giving campaign:
Capitol Hill Housing will transform a parking lot into a beautiful building at 12th and Pine on Capitol Hill – featuring 88 affordable apartments for families and individuals, performing arts space, community meeting space, and local retail – all under one roof.
Join local businesses, area foundations, and your neighbors in supporting the capital campaign to create this lasting gift to the community.
Donate now or get involved at www.12avearts.org
These are busy days for CHH. It ended 2012 by opening The Jefferson at 12th Ave and Jefferson near Seattle U. The nonprofit also packed up its 10th/Union offices to make way for planned development in a temporary exodus to downtown. Last week, CHH announced it was acquiring this 23rd and Union property for development of a mixed-use, affordable apartment project.
Meanwhile, it appears CHH will also be busy in the development of Yesler Terrace. Here’s the announcement from the Seattle Housing Authority:
The Board of Commissioners of Seattle Housing Authority tonight approved a resolution authorizing Executive Director Andrew Lofton to begin exclusive partnership discussions with the team of Vulcan Real Estate with Capitol Hill Housing to explore how to structure a Master Development Partnership for Yesler Terrace redevelopment. Both Vulcan with Capitol Hill Housing and Forest City with Jonathan Rose Companies were finalists for the role of Master Development Partner, but Vulcan with Capitol Hill Housing garnered the top ranking. Partnership discussions are expected to last several months.
In December, SHA announced it had received a $20 million federal grant to jump start construction of replacement low-income housing in Yesler Terrace.