Celebrating the Financial Closing of Housing at Lincs in Seattle
Congratulations go out to Plymouth Housing Group on the closing of Housing at Lincs in Seattle! This new construction development will provide 106 permanent homes for chronically homeless, single adults. Plymouth Housing Group will provide 24-hour on-site security, management and resident support. Services will include case management and mental health counseling. Housing at Lincs is located within the Little Saigon neighborhood of Seattle and provides excellent access to grocery, shopping, and medical facilities. The property meets Washington State Evergreen Standards, a green community equivalent.
Construction financing includes $12.8 million from Bank of America and $8.3 million from the City of Seattle. Permanent financing includes an additional $9.25 million from the City of Seattle, $2.75 million from the Washington Housing Trust Fund, and $554,000 from King County. Enterprise was proud to provide $17.35 million of equity on behalf of Bank of America.