November 20, 2017

Hirabayashi Place Grand Opening

Hirabayashi Place grand opening

Congratulations to Interim CDA on the Hirabayashi Place grand opening in Seattle! Hirabayashi Place is located in Seattle’s historic Japantown and is named after civil rights activist and local Japanese American, Gordon Hirabayashi. The new development has added 96 affordable homes for families, including 15 homes set aside for homeless individuals or families. El Centro de la Raza is operating a child care center at the development, which is a welcome amenity for family residents. Hirabayashi Place is within walking distance to daily services and has easy access to public transportation.

Financing

JPMorgan Chase provided $15.2 million of construction financing and $3.2 million of permanent financing. Additional permanent financing includes $5.6 million from the City of Seattle, $2.5 million from the Washington Housing Trust Fund, $650,000 from King County and $4.5 million from Interim CDA. Enterprise was thrilled to provide $12.2 million of equity on behalf of Morgan Stanley.

Congratulations to Interim CDA on the completion of this important development, which will positively impact the lives of families in Seattle for years to come!