November 20, 2014- Seattle, WA- Today, Mayor Ed Murray, project partners and investors will gather for the ribbon cutting for 12th Avenue Arts.
The 12th Ave Arts project is is the realization of a decades-long effort by residents to restore the cultural and artistic vibrancy of their community by redeveloping a City-owned parking lot into a 150,000 sq. ft. mixed-use project. The facility will have 6,200 sq. ft. of affordable arts and performance space, 17,000 sq. ft. of office space for nonprofitt groups, 6,000 sq. ft. of pedestrian oriented retail, 88 units of aaffordable housing and a secure parking structure with 111 parking stalls for the use of the City’s Police Department.
NDC’s $10 million Qualified Equity Investment in the $24 million project was combined with financing and NMTC allocation from Key Bank, resulting in the projected creation of 115 construction jobs and 29 permanent jobs.
Learn more about the project, HERE