The Low Income Housing Institute (LIHI) announced that its seven-story project, 125th Senior Housing, has topped out at 12245 Aurora Ave. N. in North Seattle.
The 89-unit building spans 67,345 square feet, and the site is 16,674 square feet. LIHI received a HUD 202 Senior Housing award for the property, which includes $3.3 million for construction and operating subsidies for 89 units.
The City of Seattle is contributing $9.9 million, and the State Housing Trust Fund is contributing $5 million for construction. This project was awarded an allocation of 9% tax credits from the Washington State Housing Finance Commission. Additional funding awards include $3 million from HUD sponsored by Senator Patty Murray, and $3 million from the Federal Home Loan Bank of Des Moines.
KeyBank is providing construction financing and equity through the Low-Income Housing Tax Credit program. The architect is Runberg Architecture Group, and the contractor is Marpac Construction.
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