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EMAILED
FOR IMMEDIATE RELEASE
CONTACT: Magda Herrera
(206) 658-2604
Magda@impactcapital.org
KOREAN WOMEN’S ASSOCIATION CELEBRATES OPENING OF SENIOR CITY APARTMENTS
FEDERAL WAY, WA – June 30, 2010 – The Korean Women’s Association (KWA) and Senior City Council celebrated the grand opening of the Senior City Apartments on June 11, 2010. Senior City is a mixed-use Transit Oriented Development (TOD) project and features 61 units of low-income housing conveniently located adjacent to the Federal Way Transit Center.
Proposed in 2003 by Sound Transit, Senior City is the first TOD project in Washington. It is also the largest TOD project that King County has undertaken to date. Impact Capital provided $350,000 to KWA—over 87% of the pre-development funds that were used to bring this monumental project into fruition. The construction of Senior City created 389 jobs and had a total project cost of over $17 million.
The apartments will be available to seniors, 62 years of age and older, with incomes of up to 50% of the King County median income. The complex also includes the KWA Social Services office which will provide assistance to an estimated 7,200 Federal Way and South King County residents. KWA’s multilingual and multicultural expertise will allow residents and community members of diverse cultural and language backgrounds to access the supportive services. The project’s location adjacent to the Federal Way Transit Center creates a compact, vibrant, and easily accessible community. The close proximity of the transit center also provides a cost- effective and environmentally friendly alternative to driving. “This makes it possible for seniors to live a higher quality life without complete dependence on a car for mobility and survival,”said Peter Ansara, Executive Director of the KWA.
Senior City is also an energy efficient green facility. The KWA designed and constructed the complex to exceed the Evergreen Sustainable Development Criteria. Incorporating green elements like recycled and maintenance-free materials into the building process makes Senior City very eco-friendly. The maximization of natural light and features like the green roof terrace and vegetated swale also creates a healthier, greener environment for the residents and community alike.
“We are especially proud to be involved in the development of the Senior City Apartments," said Heyward Watson, CEO of Impact Capital. “The integration of affordable senior housing, state-of-the-art green technology, and accessible transportation make this an exemplary example of what Impact Capital strives to provide for our local communities.”
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Impact Capital helps build and sustain vibrant neighborhoods in underserved communities throughout Washington.
To date, Impact Capital has invested more than $97 million in Washington and leveraged more than $2.2 billion in development, bringing $23 to Washington communities for every $1 invested by Impact Capital.