Home Finance YWCA of Seattle Buys 93-Unit Apartment Complex in City’s Capitol Hill Neighborhood...

YWCA of Seattle Buys 93-Unit Apartment Complex in City’s Capitol Hill Neighborhood for $38MM

By Kate Snyder

As part of a project to develop permanent supportive housing for the city, the Young Women’s Christian Association of Seattle-King County-Snohomish County purchased an apartment building in the city’s Capitol Hill neighborhood for $38 million, or $408,602 per unit, according to King County public records. The deal also included two single family homes adjacent to the apartment building. According to public information, the seller was listed as an entity affiliated with 102 Harvard LLC.

Located at 800 E Denny Way, the apartment complex has 93 units. According to Google Maps, nearby attractions include the Capitol Hill Station, Cal Anderson Park, M. Rosetta Hunter Art Gallery and the Broadway Performance Hall. The other properties included in the sale are located at 102 and 110 Harvard Ave. E.

According to the YWCA’s website, the group is in the process of developing brand new permanent supportive housing at the E Denny Way property, which is scheduled to open for resident move-in by June 2023.

“The 800 East Denny Way project was designed to address barriers to affordable housing in Seattle for low-income households at-risk of or experiencing homelessness,” the group’s website states. “Residents will be connected to a network of supportive services to help meet their needs and realize their goals. YWCA will deliver compassionate, culturally specific, and individualized services, in partnership with on-site staff and residents to create a healthy and thriving community.”

The completed project is slated to consist of studio and one-bedroom apartments. Funding for the project came from the City of Seattle and Washington State Department of Commerce with additional support provided by Brawner & Company, according to the group’s website.

Another housing project in Capitol Hill broke ground earlier this year at 1305 E Marion St., according to The Registry’s previous reporting. Construction on the planned 35-studio complex began in August, and the property is expected to open in the Fall of 2023. The developer, Jones Development of Seattle, announced that it would be the start of its third real estate development.