Small Business Owners Retire, Sell Land to Create Affordable Homes
Linc’s Tackle has been part of the landscape on Seattle’s Rainier Avenue South since 1950, but when owners Jerry and Maria Beppu announced their retirement, the future of the site became unknown. In the wake of a booming economy, Seattle’s legacy businesses are being forced to shutter after serving their community for decades. Many natives are bemoaning the rapid change, and for some, the loss of Linc’s will “really hurt” given its rich history – an immigrant family that’s served six generations and taught “tens of thousands” how to fish.
But what of the silver lining?
After the Beppu’s close shop at some point this year, Plymouth Housing Group will redevelop the site to create 95 new homes to serve Seattle’s growing homeless population. Residents will benefit from additional support services provided in the building, and PHG plans to create a space open to the community. PHG uses a Housing First model - a proactive approach that provides those at risk of becoming homeless with an affordable home while they receive medical attention, counseling and other services.
- Thanks to the support from our impact investors, Enterprise Community Loan Fund provided $2.8 million to purchase Linc’s.
- Studies prove that the Housing First model effectively prevents homelessness and costs less than other prevention methods.
- We’ve seen (and measured!) the effectiveness of permanently supportive housing and the positive impacts it creates for residents and communities. Read more in our Social Return on Investment Report.
- Friends of Little Saigon and Seattle Chinatown International District Preservation and Development Authority, are working with PHG to ensure that the new building is an appreciated addition to the neighborhood.
- Enterprise has invested in a number of other affordable home developments within a quarter mile of Linc’s, such as Ernestine Anderson Place and Squire Park Plaza.