September 12, 2016

Vintage and Inland design 298 units of family housing for North Highline

Image by Nystrom + Olson [enlarge]

Southside by Vintage will set aside units for larger households and those that include people with disabilities.

Last week, Vintage Housing of Newport Beach, California, bought property south of Seattle where it plans to build a $72 million project with 298 units of affordable housing for families.

King County records list the buyer as Southside by Vintage LP. The land is in unincorporated King County and sold for $4.3 million. The sellers were Ambaum 156 LLC and three other LLCs, most associated with the Benton and Powell families, who are longtime South Seattle property owners and developers.

Vintage will receive up to $55 million in tax-exempt revenue bonds issued by the Washington State Housing Finance Commission. The notes will be placed by Citi Community Capital.

The site address is 11225 First Ave. S. in North Highline, west of Highway 509 and north of Burien. The community will be called Southside by Vintage.

Spokane-based Inland Group will be the general contractor for the complex, which will have four five-story buildings, some commercial space, parking on the surface and underground, a business center, bicycle storage and a playground.

No start or completion dates have been announced.

North Highline and White Center are being considered for annexation into the city of Seattle. The matter is currently before the state Boundary Review Board. If the board approves, a city council vote is expected next year.

Rents in Southside by Vintage will be limited to 60 percent of area median income, with projections of $960 for one bedroom and $1,327 for three. Twenty percent of the units will be reserved for people with disabilities and another 20 percent will be for large households. Eighteen units will be designated live/work.

Inland Group is a relative newcomer to Seattle, but has been quite active in multifamily and resort development in the mountain states and West Coast. Inland is planning to develop 247 apartments at 913 S. Jackson St. in the International District, and will also act as general contractor. It has also developed and built large apartment projects in Covington and Shoreline.