New loan helps Downtown Emergency Service Center (DESC) develop affordable housing in Rainier Beach
On September 15 Impact Capital was proud to close a loan with the Downtown Emergency Service Center (DESC) for their Estelle Supportive Housing Development in Southeast Seattle’s Rainier Beach neighborhood.
The Estelle development will be a 91-unit studio / single resident occupancy (SRO) apartment building, including ground floor offices and space for support services. These units will provide permanent housing for homeless men and women living with disabilities, and there is the possibility a healthcare clinic will be incorporated into the site as well.
We are grateful for the opportunity to contribute early capital to help secure the Estelle Supportive Housing Development. DESC executive director Daniel Malone tells us, “Impact Capital pulled out all the stops to help us complete an expedited closing for our Estelle project. Despite our very tight timeline as well as last-minute complications, their responsiveness allowed us to close on the property on time.”
To discuss a loan for your project, please contact Seth Benziger by email or phone (206) 658-2605.