Atrium Court

Recently completed eight-story, mixed-use housing development in Seattle’s Othello neighborhood.

This transit-oriented project is located less than 200 feet from the Othello Link Light Rail Station. It features 271 apartments, all priced to be affordable for individuals and families earning between 50% and 80% of the area median income (AMI).

The project, sponsored by O.Z. Navigator, received a $16 million twenty-year, low-interest loan from Amazon’s housing fund and covenanted 200 of the apartments as income-restricted for 99 years.

“Atrium Court is a great example of leveraging private capital and collaboration to build affordable apartment housing,” said Senthil Sankaran, Managing Principal, Amazon Housing Equity Fund.

The project team also partnered with Allivate Impact Capital and CEI-Boulos Capital Management, who invested $15M in the project.

The majority of retail space has been purchased by the Business Opportunity Community Fund, a collaboration between the City of Seattle’s Office of Economic Development (OED) and Grow America. The fund helps business owners secure fixed, affordable rents through a model of shared ownership of the commercial space.