White Center Community Development Association Closes $49.3 million Development Financing for Construction of Affordable Housing Project in White Center, Washington

We would like to congratulate our client, White Center Community Development Association (WCCDA), on closing a $49.3 million development financing for the construction of a 76-unit affordable housing project in White Center, Washington. The financing included equity from low-income housing tax credits (LIHTC), funding from King County and the State of Washington, and bond proceeds. This housing will support households with earnings between 30% and 60% of the average median income in King County. WCCDA is co-developing the project with Community Roots Housing. The project is slated to be completed at the end of 2025 and will contain a mixture of 1, 2, 3, and 4 bedroom units.

This project is part of the “White Center HUB” redevelopment project on land that was acquired in January 2024 from King County, Washington, which designated the property for community use. In addition to the housing, the HUB will have 25,000 sq. ft. of commercial space for community organizations and nonprofit services in a separate building being developed by WCCDA and funded by New Market Tax Credits and public funders.

The White Center HUB, standing for "Hope, Unity and Belonging," will house WCCDA, Southwest Youth and Family Services, FEEST Seattle, Healthpoint, Yes! Foundation, and other organizations to support the White Center community. WCCDA is a non-profit community organization formed by a collaborative effort between King County, leaders of White Center, and neighborhood community members.

The Stoel Rives deal team was led by Sallie Lin and included Shelsea Voigt, Ana Trask, and Mario Nicholas.