Projects - Beacon Development Group

The Ritz Apartments

The acquisition and rehabilitation of 30 units of work force housing located in the Central District of Seattle.

Project Description: The rehabilitation of the Ritz Apartments preserves work-force housing in Central Seattle and provides capital improvements and new ownership to a building desperately in need of repair and reliable management. The remodeled building contains eight studio and 22 one-bedroom units. Residents Served: Individuals with incomes at or below 60% of area median income (AMI), with 15 of the 30 units in the project reserved for those with incomes at or below 50% of AMI.		Location 1302 East Yesler Way, Seattle, WA Sponsor Seattle Housing Authority Funding sources • Tax-Exempt Bonds Low Income Housing Tax Credits City of Seattle Seattle Housing Authority Cost $3,207,888 Type of Development Acquisition / Rehab


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