Acquisitions

Building Vibrant and Engaged Communities

Active since 1976, Community Roots Housing provides affordable homes to over 2,000 residents in nearly 50 buildings across the Seattle region.  We are actively seeking to expand our portfolio to help address the current affordability crisis.  We aim to accomplish this through two primary strategies—development of new affordable properties and acquisition of existing buildings that are either currently operated in an affordable manner or suitable for conversion to long term affordable housing. 

We are flexible on deal terms and willing to consider a variety of transaction structures.  For some property owners, a so called ‘bargain sale” transfer (transaction is part sale of an appreciated asset and part gift) may yield a better after-tax cash result versus an all cash sale.  Please consult your tax advisor to make this determination.

New Properties to Develop

Community Roots Housing currently has over 1,000 units in its active pipeline, the most recently completed projects, the Liberty Bank Building and Station House, combined are well over 200 new units of affordable housing.  The organization is seeking additional multifamily development sites in Seattle that meet the following criteria:

Location: Throughout Seattle.  Properties near transportation hubs are a priority.

Size: Prefer sites that could accommodate at least 100 units.

Zoning: MF, NC zones

Structure: We will consider development joint ventures with land owners (non-profits and others) who have a desire to redevelop sites to include an affordable housing component.

Learn about the current development projects in our pipeline.

 

 

Existing Properties

Community Roots Housing is also actively seeking to purchase existing multifamily buildings. We have access to capital and can offer flexible terms to accommodate seller needs.

Location: Capitol Hill, Central District, Belltown, West Seattle, other Seattle neighborhoods.  Especially interested in buildings near transportation hubs.

Size: Focus on properties of at least 100 units, may consider smaller buildings in certain areas.  Will consider portfolios and other unique situations.

Affordability: Strong interest in buildings that have an existing Section 8 contract or currently serve residents of limited means.

Contacts: Development sites and properties requiring extensive renovation, please contact Jeremy Wilkening at jwilkening@communityrootshousing.org or (206) 204-3830. Existing operating buildings, please contact Brad Lange at blange@communityrootshousing.org or (206) 204-3846.

Learn about our portfolio of current properties.

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