Pioneering Transit-Oriented Workforce Development Opens in Everett, Washington
HopeWorks Station II, a partnership between Housing Hope and HopeWorks, is a groundbreaking new development near Everett Station that embodies several high priority areas of focus for the city of Everett and Snohomish County, Washington. This project is the first new construction development in the downtown area with a goal of creating a model for transit-oriented development, prioritizing a vibrant pedestrian and bicycle friendly area with residential over community and retail on the ground floor.
HopeWorks Station illustrates HopeWorks leadership in fostering and implementing a vision for transforming the once distressed 50 block area into a vibrant neighborhood. The area’s ambitious goal is to bring 1000 new jobs and 4500 new housing units to Everett Station by the time light rail arrives as the northern terminus in the Puget Sound area from Tacoma to Everett.
“There’s been little action [in this neighborhood] over the last 17 years since the beautiful Everett Station Transit Center was opened. We’re looking to create a more enticing environment for development,” said Housing Hope’s Founder and current Chief Strategic Officer Ed Petersen.
These 65 apartments will be home to veterans, youth and other individuals experiencing homelessness, and low-income families, who are positioned to pursue career pathways. The robust work-oriented environment includes not only housing, but 13,000 square feet of commercial space dedicated to workforce programs through social enterprise businesses operated by HopeWorks.
In this innovative model of workforce housing, employment opportunities include internships for homeless and very low-income individuals positioned to break the cycle of poverty through job training in career pathways that will lead to a livable wage. HopeWorks Station will generate 100 permanent jobs and graduate 100 Interns per year when fully built out.
In addition, the development is ultra-energy efficient, and is participating in the International Living Futures Institute's Affordable Housing Pilot Program, pursuing the Energy, Beauty and Place Petals of the Living Building Challenge and net positive energy for the residential portion of the building. The project was also one of four awarded funding for the Ultra-High Energy Efficient demonstration program by the Washington State Department of Commerce Housing Trust Fund.
Enterprise invested in this project with over $20 million in Low Income Housing Tax Credit equity, New Markets Tax Credit equity, Solar Tax Credit equity, and bridge financing.