After partnering with Heartland LLC last year to seek a development partner, St. Lukes Episcopal Church is moving forward with partners Bridge Housing and Security Properties to redevelop their land at 5710 22nd NW. The property consists of four plots totaling 40,000 square feet and is zoned for a wide range of uses including multi-family residences and neighborhood businesses. The entire development will be located on the St. Luke’s property, which measures approximately 55,000 square feet. Two buildings will be developed under a single City of Seattle project number and with the same design and construction team.
From the St. Lukes site:
The plan is to develop 80 affordable apartment houses and around 200 at market prices. The proposed development includes two integrated but separate buildings, as well as a new church for Saint-Luc.
The market rate component will also make 20% of housing affordable, thanks to the City of Seattle’s Multi-Family Tax Exemption Program (MFTE). MFTE units are subject to income restrictions for individuals and families with a regional median income (AMI) of 60-80%. For an individual, 80% of MAI represents annual income of $ 63,350.
The affordable apartment house component will serve families at 60% or less of the MAI, which for a family of four is $ 69,420. If subsidies can be obtained, some units will be rented at 30% and 50% from AMI.
The project includes ground floor space for a new church, located at the corner of 22nd Avenue NW and NW 57th Street. Market rate and MFTE apartments will be above the new church.
There will be an underground car park with approximately 165 parking spaces. No commercial or commercial space is planned.
From the development proposal:
The proposed development will have a long term ownership structure and will be built on two plots belonging to this faith-
based organization. This two-building project is envisioned as a community with a symbolic design. The market rate building will house a permanent residence for the new St. Luke’s Church with income from the apartments at the above market rate. The affordable building will provide housing for families in Ballard and will be the first of its kind in the neighborhood for 40 years.
St. Luke’s Episcopal Church, together with their development partners BRIDGE Housing and Security Properties, is bringing the first such affordable family housing project to Ballard.
The Affordable Apartments Component, developed by BRIDGE Housing, will provide 86 permanently affordable apartments that will serve families at 60% or less of the MAI, which for a family of four is $ 69,420. If subsidies can be obtained, some units will be rented at 30% and 50% from AMI.
The market rate component, developed by Security Properties, will have
20% of housing is affordable, thanks to the City of Seattle’s Multi-Family Tax Exemption Program (MFTE). MFTE units are subject to income restrictions for individuals and families with a regional median income (AMI) of 60-80%. For an individual, the 80% MAI represents an annual income of $ 63,350.
The immediate neighboring neighborhood has an average median income of $ 91,288 and currently 39% of total renter households are moderately overburdened (spend 30% more of their income on rent) and 11% of total renter households are heavily overburdened ( spend 50% or more of their income on rent). In comparison, Seattle-Tacoma-Bellevue’s overcharged tenants are 45%.