SEATTLE Earlier this month, Mt. Baker Housing filed a 233-unit redevelopment plan for the 3.3-acre Thunderbird Treatment Center, at 9236 Renton Ave. S. Now, via an LLLP, it s paid $7.5 million for the property, according to King County records. Public records indicate acquisition loans from the city and Enterprise Community Loan Fund.
The seller was the Seattle Indian Health Board, which acquired the property in 1990 for about $1.4 million. The nonprofit s brokers were Scott Clements and David Butler of Orion Commercial Partners. The deal was worth about $52 per square foot for the land, which is about a 10-minute walk west to Rainier Beach Station.
Rendering by GGLO
[enlarge]
Via7 will be the second large new affordable housing project near the light rail station, after Inland Group’s Polaris at Rainier Beach.
Mt. Baker Housing and GGLO are planning a midrise, 221-unit affordable housing project at 8600 Rainier Ave. S. The Via7 apartments will also include almost 11,000 square feet for Rainier Valley Food Bank, including offices.