New Markets Tax Credit Coalition

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Compass Center

Completed in mid-2005, the buildings provide transitional housing for 78 men for up to one year, 23 units of permanent low-income housing, space to prepare 500-1000 meals for the homeless, mail and banking services for 500 individuals, hygiene services for 200-300 individuals, mental health services, substance abuse counseling and support, wellness services, case management, home for two other homeless service organizations and community space for residents.

Investment

  • NMTC Amount: $4,075,000
  • Total Project Cost: $9,177,078

IMPACT

  • 40 FTE jobs

Investor

Project Description

Compass Center, an important transitional housing and homeless service center in Seattle’s distressed Pioneer Square neighborhood was destroyed in a 2001 earthquake. The City and community wasted no time planning the repair of the original structure and the addition of a new facility. NDC’s investment is part of this comprehensive residential and social services project, involving 14 different financing sources and years of pre-development work.

Completed in mid-2005, the buildings provide transitional housing for 78 men for up to one year, 23 units of permanent low-income housing, space to prepare 500-1000 meals for the homeless, mail and banking services for 500 individuals, hygiene services for 200-300 individuals, mental health services, substance abuse counseling and support, wellness services, case management, home for two other homeless service organizations and community space for residents.

MAP

Address: 210 Alaskan Way, Seattle, WA 98104

Census Tract: 53033009200

Other Washington Projects

Development of Eastside Community Center Tacoma, a 55,000 sq. ft. facility operated in connection with Boys & Girls Clubs of South Puget Sound.
A social enterprise in Seattle dedicated to transforming the lives of homeless men and women through job training and placement in the food service industry.
NMTC financing supported a total of 61 new homes.

This project will finance the equipment acquisition required to construct an ultra-low temperature fish freezing, cold storage salmon processing facility that will operate on water. The facility will spend peak