Mental Health Agency To Build Two Affordable Housing Properties In Seattle
The Community House Mental Health Agency was provided with $30.9M in financing from KeyBank for two affordable housing properties at 2212 and 2214 South Jackson St. This site is on the corner of 23rd and Jackson streets.
The 74-unit Judkins Junction will be constructed with a $13.6M loan from KeyBank. Additional funding was provided by the city of Seattle and King County. The tax-credit investor is the National Development Council. KeyBank will also provide a $5.6M private placement permanent loan.
The 52-unit Patricia K. Apartments will be built with an $11.7M loan. The building will provide supportive housing for individuals with mental illnesses. Additional funding was provided by city of Seattle, King County and the Washington State Housing Trust Fund. The National Development Council is also the tax-credit investor on this project.
Victoria Quinn of Key’s Community Development Lending and Investment group arranged financing for both properties.