Home AEC Local Nonprofit Acquires 66-Unit Multifamily Asset in Seattle’s Fremont Neighborhood for $20.4MM 

Local Nonprofit Acquires 66-Unit Multifamily Asset in Seattle’s Fremont Neighborhood for $20.4MM 

Seattle, Chief Seattle Club, Kamiak, Fremont, Goldfinch, Pioneer Square, Lake City, Sacred Medical Housing

By Catherine Sweeney 

The Chief Seattle Club, a nonprofit that provides services to the city’s growing homeless Indigenous population, has recently acquired additional supportive housing. According to records filed with King County, the company purchased a recently completed 66-unit building for $20.4 million, or about $309,990 per unit. The seller in the transaction was Kamiak, a Seattle-based real estate development company. 

The new building, which has been dubbed Goldfinch, is located at 4717 Aurora Avenue N. in Seattle’s Fremont neighborhood. According to Kamiak’s website, the project includes studio units, a ground floor club room, 17-parking spaces and a rooftop amenity deck.

The property’s new owner plans to use the building as supportive housing for Seattle’s indigenous senior population. The nonprofit’s website shows its plan to convert the building into 63 studios that will hold space for 55 residents. The nonprofit worked to complete the transaction with the Low Income Housing Institute and the Office of Housing and will likely open doors this winter. 

“We successfully advocated for a 66-unit market-rate apartment building to be purchased and converted into permanent supportive elders’ housing for our community! The building was constructed under the name ‘Goldfinch’ but that will likely change,” Chief Seattle Club’s website states.  

In addition to the recently acquired asset, the organization has acquired and/or developed several other supportive housing properties throughout the area. Most recently in January, the company announced its completion of new supportive housing in the city’s Pioneer Square neighborhood. The building – also named ?ál?al – will house 100 residents in 80 units. Pre-development has also begun for Sacred Medical Housing, a supportive housing project in Lake City. Once completed, the building will offer 125 units to unhoused indigenous people.