Plymouth Housing’s Newest “Housing First” Development – Bob & Marcia Almquist Place – Opens in Seattle’s Chinatown-International District
Photography Courtesy of Walsh Construction
The Bob and Marcia Almquist is a “Housing First” development that will provide 105 units of permanent, supportive housing in a six-story building for chronically homeless, single adults. This project, like most of Plymouth Housing’s portfolio, will include 24 hour on-site staffing and on-site case management for residents. The Housing First model blends clinical services and property management, and its staff will support residents with the challenges of daily living, including providing nutritional support, reminders for medications and appointments, monitoring of visitors, and various other everyday tasks. Units will be furnished with bed-bug resistant furnishings, including bed, dresser, table and chairs. In addition to the studio units, the building will include office space for Plymouth staff, common space for residents, and commercial space that will be master leased by Plymouth.
Bank of America provided $12.3 million of Construction financing. Permanent financing includes a $9.2 million loan from the City of Seattle, a $2.75 million loan from Washington Housing Trust Fund, a $554,347 loan from King County, and a $3.1 million sponsor loan from PHG. Enterprise is thrilled to provide $17.3 million of equity on behalf of Bank of America Fund 12.