Yesler Terrace: Partnership for Urban Revitalization
Please join CoreNet Washington at our November Luncheon for an illuminating presentation on Yesler Terrace: Partnership for Urban Revitalization.
The existing public housing community at Yesler Terrace sits on
approximately 30 acres just east of downtown Seattle. At more than 70
years old, many of Yesler Terrace’s buildings are at the end of their
useful life and need replacement. The Seattle Housing Authority (SHA)
will replace all 561 of the existing housing units so that both current
and future residents can live in a community that is healthier and more
sustainable, with enhanced education, employment and health care
services.
In today’s environment of constrained financial resources, SHA cannot
implement this project on its own. To raise funds for critical community
improvements, SHA recently sold 3 blocks of land to Vulcan Real Estate,
which will be developed into higher density market-rate and workforce
housing. Furthermore, SHA has partnered with Kidder Matthews to market
4.41 acres of the community for up to 900,000 SF of urban office campus
development. Having already completed the heavy-lifting of SEPA
environmental review, SHA intends to attract a large employer to Yesler
Terrace, boosting the economic vitality of the community.
Presentation Goals:
- Learn
how SHA is partnering with multiple stakeholders to revitalize Yesler
Terrace—one of the most transformational initiatives currently underway
in Seattle
- Examine
the role of corporate campuses as a catalyst for urban redevelopment
and a focal point for community impact and relations
Presenters:
Stephanie Van Dyke
is the Seattle Housing Authority's Director of Development. SHA’s
mission is to enhance the Seattle community by creating and sustaining
decent, safe and affordable living environments that foster stability
and increase self-sufficiency for people with low incomes.
Stan Snow
is a Senior Vice President at Kidder Matthews and has worked on some of
the largest and most complex real estate transactions in Seattle,
including the redevelopment of SODO Center (now Starbucks HQ), and the
disposition of 33 Seattle Monorail properties.