510 Broadway – Seattle, WA
Clearinghouse CDFI (CCDFI) provided $11 million in financing to 510 Broadway Partners, LLC in Seattle, WA. This loan provides refinancing of existing high-cost bridge loans and investing in crucial tenant improvements, fostering enhanced living conditions and boosting the commercial viability of the property.
The property is a notable mid-rise structure in central Seattle featuring 84 residential units along with 1,106 square feet of retail space. This project emphasizes affordability by reserving a significant portion of the housing for low-income families, thus contributing positively to the area’s housing market and reinforcing community development. The strategic location near Seattle University and the vibrant Capitol Hill neighborhood ensures strong demand and sustained occupancy, reflecting a deep integration with the local community fabric.
Managed by 510 Broadway Partners, LLC, with backing from seasoned real estate entities and local nonprofits like Synergy Community Development Corporation, this initiative supports sustainable urban development. The organization reinforces its commitment to offering affordable, high-quality living spaces in one of the city’s most dynamic districts.
Read the full story here: Just Funded – 510 Broadway
24WA-7694 & 24WA-7695
Provides 63 units of affordable housing for residents earning <60 AMI
Refinances existing high-cost bridge loans and supports tenant improvements to improve living conditions
