Thursday, Columbia Pacific Advisors announced that they are entering into a long-term lease with the Archdiocese of Seattle and St. James Cathedral to build a 237-unit, 24-story senior housing community in First Hill.
Located at 620 Terry Avenue, the building will offer 237 units of independent-living, assisted-living and memory care apartments as well as 188 parking stalls and 1,600 square-feet of commercial space.
"We’re delighted to enter into this lease with Columbia Pacific Advisors," said Greg Magnoni, Director of the Office of Communication of the Archdiocese. "The ground lease will provide important long-term funding for Archdiocesan programs and for the Cathedral’s many social outreach ministries, while preserving church ownership of the property. The character of the project is something that we are proud to be a part of and we are thrilled that it will increase housing for seniors in the First Hill neighborhood."
Ankrom Moisan Architects will design structure, which Columbia Pacific Advisors expects to start construction on next year with an opening timeframe of 2019. They'll present three potential designs to the design review board soon.
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