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May 19, 2015

Hilltop House senior units get $10M rehab

By JOURNAL STAFF

Courtesy CBRE [enlarge]

Hilltop House, a 126-unit affordable housing complex for seniors at 1005 Terrace St. in Seattle, is getting a remodel.

CBRE said Hilltop House got $10.32 million through the U.S. Department of Housing and Urban Development's substantial rehabilitation mortgage insurance program. Hilltop House also received one of only 12 contracts from HUD for a program that subsidizes rents for some residents.

John Taylor, senior vice president of CBRE Capital Markets in Seattle, originated the loan.

Hilltop House Inc. is a nonprofit that has owned and managed the building since it opened in 1967. It plans to spend about $46,000 rehabbing each unit. Work includes replacing galvanized piping; exhaust and heat recovery conversion throughout including the commercial kitchen; and upgrades to the electrical panel.

Units will get new flooring, cabinets and appliances, and bath tubs will be converted into accessible showers. The entry, first floor office and corridors will all get a facelift.

SMR Architects is designing the renovation, and Walsh Construction is the general contractor.

Beacon Development Group is handling development and construction oversight.




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