Aug 24Mercy Housing Northwest’s Mercy Magnuson Place and Gardner House in Seattle Honored with Affordable Housing Award From National Coalition
FOR IMMEDIATE RELEASE
August 24, 2020
Contact: Kate Peterson | 303.830.3443 | email@example.com
26th Annual Charles L. Edson Tax Credit Excellence Award recognizes best in affordable housing
Washington, D.C. – The Affordable Housing Tax Credit Coalition (AHTCC) today announced that two Mercy Housing Northwest developments in Seattle are recipients of the Charles L. Edson Tax Credit Excellence Award, Mercy Magnuson Place in the Historic Preservation category and Gardner House in the Special Needs category, recognizing affordable housing developments and organizations that have demonstrated especially impactful use of the Low-Income Housing Tax Credit (Housing Credit).
Announced each year from the nation’s capital, the awards honor Housing Credit developments that are strengthening communities, improving residents’ opportunities and boosting economies in urban, suburban, and rural areas across the country. The awards come at a time when the COVID-19 pandemic and its economic impact have intensified the need for affordable housing, compounding the challenge facing at-risk families and individuals already struggling to pay rent.
“Providing affordable housing to individuals and families lays the foundation to building healthy and strong communities. I am proud to congratulate … Mercy Housing Northwest for turning these words into action and being honored with this year’s Charles L. Edson’s Tax Credit Excellence Awards,” said U.S. Representative Pramila Jayapal (D-Wash. 07). “Their accomplishments here in Washington’s 7th Congressional district make me proud to represent this incredible region. Building affordable housing—and community—is a beautiful and lasting way to preserve an historic landmark. Mercy Housing restored the former U.S. Navy Barracks Building 9 into Mercy Magnuson Place, empowering over 100 residents to access affordable housing and thrive in the Magnuson community.”
Mercy Magnuson Place is situated in Seattle’s 350-acre Magnuson Park, which includes the Sand Point Naval Air Station historic district and is home to over 60 nonprofit organizations. Following the 1991 base closure, the site formerly known as Building 9 fell into disrepair, creating safety concerns for neighbors, park users and nearby affordable housing communities. Mercy Housing Northwest envisioned a vibrant, new community housed in a revitalized historic structure where families could thrive and enjoy housing stability often unavailable to lower-income families in Seattle’s high-cost housing market. The adaptive reuse and historic preservation of this 250,000 square foot building now provide 148 affordable homes, combined with an onsite childcare center and neighborhood health clinic. The project was made possible through Housing Credit investment from Capital One, N.A., that was syndicated by Enterprise Housing Credit Investments, as well as additional financing from numerous stakeholders.
“The Housing Credit continues to spur development of affordable homes that go above and beyond for the families they serve,” said AHTCC Executive Director Emily Cadik. “The Edson Award winners this year demonstrate how innovative and high-quality affordable housing can transform communities and help meet the need for education, child care, health care and other services vital to a community’s support system for at-risk families and individuals.”
“In Washington state and across the country, there are far too many people who cannot afford their rent due to a lack of affordable housing. As individuals and families spend a disproportionate amount of their income on rent, they are left with less to spend on other basic needs and expenses like health care, transportation, and food,” said U.S. Representative Adam Smith (D-Wash. 09). “Fortunately, there are organizations in Seattle like Mercy Housing Northwest working to provide new affordable homes and quality services for families, formerly homeless individuals, and people with disabilities. I am pleased to hear that Mercy Housing Northwest’s Gardner House has been recognized with this award for their exemplary use of the Low-Income Housing Tax Credit (LIHTC) to provide affordable housing for those in need. This is a great example of why we should expand and strengthen the LIHTC to spur affordable housing throughout the Puget Sound region.”
“Congratulations to the winners of the Charles L. Edson Tax Credit Excellence Award from the state of Washington,” said Senator Maria Cantwell (D-Wash. 01). “Affordable housing is such a crisis across the United States, and here in Washington state we have been working hard to find solutions. I’m so proud of the work the awardees are doing to help create stronger and healthier communities [Gardner House, Mercy Magnuson Place, and The Tony Lee] will add more than 300 combined affordable units in our state and provide critical services to their communities.”
Developed by Mercy Housing Northwest, Gardner House provides 95 new affordable homes and quality services for families, formerly homeless individuals, and people with disabilities. On the ground floor, the Allen Family Center provides resources for Gardner House residents and families in the community who are at risk for homelessness, including employment preparation and basic needs assistance. Over 130 children live in Gardner House, with 70 under five years old. To provide affordable, convenient child care for residents, two units are designed to be licensed in-home childcare units. Gardner House also provides a secure playground, outdoor courtyard, computer lab, and large community room. The Housing Credit was used to finance the property, with investment provided by U.S. Bancorp Community Development Corporation. The Paul G. Allen Family Foundation and City of Seattle were also instrumental in bringing the property to fruition.
Since 1986, the Housing Credit has financed more than three million homes for low-income households, including veterans, senior citizens, individuals with disabilities, essential workers, and families with children. Through public-private partnerships, the Housing Credit offers a proven track record of financing safe, decent affordable homes in communities where they are needed most.
“The Edson awardees highlight the creative and innovative solutions that exist to combat the nation’s lack of affordable housing,” said AHTCC President and WNC, Inc. Executive Vice President Michael Gaber. “As the impact of COVID-19 continues to create hardships for a growing number of families and working people across the country, now more than ever we need effective tools like the Housing Credit to provide stable, affordable homes.”
For more information about the 2020 Edson Awards, please visit taxcreditcoalition.org/edson-awards/.
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About Mercy Housing Northwest
Since 1981, Mercy Housing Northwest (MHNW) has provided affordable homes to people with low incomes, including families, seniors, people who have experienced homelessness, and people with disabilities.
With 54 properties in Washington and Idaho, MHNW serves more than 5,600 people every day. MHNW supplements much of its housing with Resident Services, programs that help residents build stable lives. MHNW is a regional branch of Mercy Housing, Inc. (MHI), a leading national affordable housing nonprofit headquartered in Denver, CO.
About the Affordable Housing Tax Credit Coalition
Founded in 1988, AHTCC is a trade organization of housing professionals who advocate for affordable rental housing financed using the Low-Income Housing Tax Credit (Housing Credit). AHTCC’s for-profit and non-profit members—including syndicators, investors, lenders, developers, legal and accounting professionals and state allocating agencies—seek to preserve, expand and improve the Housing Credit and complementary programs through legislative outreach and education.
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