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In $29.3MM Transaction, YWCA Brings on New Equity Partner for “Opportunity Place” Building in Seattle

By Meghan Hall

The Young Women’s Christian Association has been operational in the Puget Sound for more than 125 years and is the region’s oldest nonprofit in the region. The second largest chapter in the nation, YWCA has been headquartered at its Fifth and Seneca location downtown since 1914 and today operates more than 25 locations and over 900 units of housing throughout the Puget Sound. In an effort to maintain one of its other downtown assets, referred to as Opportunity Place, the YWCA has brought on a new equity partner — referred to as Opportunity Place Housing — in a $29.3 million transaction that closed on Tuesday, November 19th, according to King County public documents.

Documents indicate that the new equity partner located at the same address and associated with the YWCA.

Opportunity Place, located at 2024 Third Ave., not far from the YWCA’s headquarters, is dedicated to providing resources to address homelessness and poverty. It is the home of Angeline’s Day Center for Women, a day shelter for women experiencing housing insecurity. On the second floor, a WorkSource center offers access and classes for computers and job training, while the top several floors include 145 rental units that are a mix of studio and one-bedrooms.

The property is home to the YWCA’s Title V Employment, Health Care Access, WorkSource Affiliate, Veterans and WorkForce Employment and Affordable Housing programs. It also houses the YWCA’s Sexual Violence and Legal Services department. Opportunity Place opened in 2003, and according to its website, 250 women use the center on a daily basis.

The YWCA headquarters is just several blocks from the site. Built in 1914, it was the largest YWCA branch outside of New York at the time of its construction. Like the Opportunity Center, the YWCA also has about 180 rooms for those experiencing homelessness.