Home Finance Housing Diversity Corporation Buys 107-Unit Apartment Building in Seattle for $27.5MM

Housing Diversity Corporation Buys 107-Unit Apartment Building in Seattle for $27.5MM

Seattle, 500 Broadway QOZB LLC, 500 Broadway Partners LLC, Puget Sound, Neiman Taber Architects, Squire Park, Minor, Seattle University, Pioneer Square, Kenmore Air Harbor Inc, Seattle-Tacoma International Airport, International District, Central District

By Kate Snyder

An apartment complex that was just completed last year in Seattle’s Squire Park neighborhood was sold for $27.5 million, or approximately $257,009 per unit, according to King County public records. The buyer is an entity affiliated with Housing Diversity Corporation, and the seller is an entity affiliated with 500 Broadway Partners LLC.

The eight-story apartment building is located at 500 Broadway and sits on a lot that is almost one fifth of an acre. Neiman Taber Architects designed the structure, and according to the firm’s website the average unit size is 256 square feet and the total building size is 44,243 square feet. For the original design plan, according to The Registry’s previous reporting, representatives of the architecture firm said that the goal of the finished product is to create a structure reflective of the neighborhood’s diverse array of commercial and residential buildings.

The complex offers one- and two-bedroom apartments and features include laundry facilities, an elevator and a lounge as well as unit-specific amenities such as appliances like microwaves and refrigerators, according to Apartments.com. It totals 107 units.

Nearby attractions include Seattle University, Pioneer Square, Kenmore Air Harbor, Inc., and Seattle-Tacoma International Airport. The Squire Park neighborhood is close to downtown as well as Seattle’s International and Central Districts.

The neighborhood, also known as Minor, is densely populated and “there are several small parks, plenty of trees, wide sidewalks, and historic architecture that make Minor one of Seattle’s most dynamic and attractive communities,” Apartments.com states. “This is a friendly community that provides a variety of housing, from charming bungalows to large apartment buildings.”

Housing Diversity Corporation is dedicated to “producing high-quality homes that help create healthy, diverse neighborhoods,” according to the company’s website. The firm currently has developments in Los Angeles and Seattle with plans to expand across the West Coast.