Today I attended an event at the Amazon Spheres (hosted by Tech 4 Seattle and Bellwether Housing) and came away inspired by the energy in the room to make a difference to the growing homelessness crisis in Seattle. Bellwether Housing announced a fund to house 2400 residents and will build 750 affordable units in 4 different neighborhoods in Seattle and Tukwila (X, Y and Z). She shared more details about the projects themselves - all these projects are near public transit. One of them, referred to as “Mad Boy” is being built on land from Sound Transit and developed in partnership with Plymouth Housing will be Seattle's first nonprofit affordable high rise. Bellwether will operate 253 apartments and Plymouth will operate 115 studios for seniors.
Our mayor Jenny Durkan attended the event as well, and the CEO of Bellwether Susan Boyd (literally) climbed on the soap box and inspired the audience with her rousing speech. What’s unique about the Building Opportunity Fund is that anyone (not just accredited investors) can invest in this fund, and receive annual returns on these loans.