May 10, 2021
The HopeSource Spurling Court project is expected to be completed by the end of May as part of the city’s Affordable Housing plan.
Construction crews are putting the finishing touches on the complex at 1204 Rainier St. and expected to finish up the landscaping in the next couple of weeks to complete the first of three projects.
The city’s Affordable Housing Commission has received an application to develop a large scale apartment complex that could tentatively hold 57 units at the Community Garden property on First and Pine.
Stadler Interests managing partner Matthew Stadler’s proposal is to utilize parcels 6al7033 and 937033 at the First and Pine property currently owned by the city.
“As a multi-family developer, it would be a larger scale apartment complex that could tentatively hold 57 units. I have done the surface level numbers to include the prevailing wage in the costs and the lowered rent rates and the project looks like it would financially work,” Stadler said in his application.
“For the leverage part of the financing, a section 221 (d%4) loan would be used and with the resulting higher than average loan to cost amount allowed, the cash amount now free in the AH fund would be enough bridge capital to cover the remaining costs.”
The Affordable Housing Commission recommended the proposal be placed on the city council agenda for council review.
“The only thing (Stadler’s) asking for is the contribution of the land,” Mayor and Affordable Housing Commission chair Bruce Tabb said. “He plans to apply for a HUD loan. We’ve been waiting for someone to come forward with a proposal.
“To be able to construct 57 units. To be able to support a project that will support market need without having to contribute anything but the property is incredibly exciting.”
In December, the city council approved the Habitat for Humanity Seattle-King County’s application for up to $765,000 from the city’s Affordable Housing Fund to develop the city-owned property located at 113 W. Bender Road.
According to Habitat for Humanity Seattle-King County Director of Development Patrick Sullivan, the project of 18 homes would serve a range of household sizes ranging from one-to-six. All homes will be sold to those making less than 80% of the average median income (AMI), with three of the homes reserved for those making 60% AMI or less.
“The amount of our request is 16% of our total development budget, therefore we are reserving 16% of the units (3 units) for those 60% AMI or less,” Sullivan said. “HFHSKC will use the Habitat land trust to ensure permanent affordability through its 99-year renewable, inheritable lease that includes resale restrictions and a resale formula that allows for equity creation that provides the owner an average of $48,300 in equity creation, based on past land trust resale properties.”
Tabb said that project is ready to move forward after COVID-19-related delays.
“The process are moving forward so we don’t slow the process down,” Tabb said. “They are on track to probably begin in the fall with the major portion of the development to occur next year. They are anticipating a completion date sometime in 2022.”
The Spurling Court project is expected to be complete at the end of May.
Thanks to a $170,000 grant from the Washington state Department of Commerce and $30,000 in matching funds from the city of Ellensburg, the affordable housing project Spurling Court will incorporate solar power.
The city council approved the Spurling Court solar project and HopeSource has worked steadily through the pandemic in 2020.
“Across the country, low-income communities rarely benefit from renewable energy projects,” said Andrew Lyons, HopeSource director of operations and manager of the grant. “The Spurling Court project is seeking to change that trend with the installation of a large solar array and by using energy-efficient technology and building supplies in the construction of the project.”
The affordable housing complex will be topped with a 101-kilowatt solar array. The power generated by the panels will offset the energy costs of the Spurling Court community center, with additional utility savings to be shared among residents of the complex.