Clearinghouse CDFI (CCDFI) is financing a $14,600,000 mini-perm loan to help Housing Diversity Corporation (HDC) bring affordable housing to Seattle, WA. CCDFI’s loan uses award funds received through the U.S. Treasury Capital Magnet Fund Program to help finance the development of affordable housing for homeless and other disenfranchised populations. These funds support Cityscape Broadway, a newly built mixed-use property in downtown Seattle.
In Seattle, 2 out of 5 individuals are low-income and only 1 in 5 newly built homes are designated affordable. HDC is working to bridge that gap through the sustainable development of this 107-micro-unit Seattle property. Cityscape Broadway offers 53 affordable units to families earning less than 80% area median income with the remaining units at 120% AMI. The micro-units in this development provide affordable living space for area residents, along with amenities like a rooftop deck, laundry, high-efficiency appliances, and more. CCDFI’s loan provides permanent financing to replace an existing construction loan.
HDC provides a forward-thinking alternative to traditional apartment living. Their sustainably designed, modern spaces allow people to affordably live in beautiful surroundings in these urban centers.
Read the full story here: Just Funded – 500 Broadway