A new Seattle mixed-use development has risen on the site of the first African-American–owned bank in the Pacific Northwest, paying tribute and providing opportunity for the community.
Seattle’s Central District had been the center of African-American life for 130 years, but families, businesses, and institutions that have been there for decades are now facing increased gentrification and the threat of displacement by surging rents.
To support community empowerment and the need for crucial affordable housing, Seattle developer Capitol Hill Housing partnered with three local black-led organizations—Africatown Community Land Trust, the Black Community Impact Alliance, and Byrd Barr Place to develop the new Liberty Bank Building.
“We have a great affordable housing need in Seattle, like so many urban areas. There’s been significant displacement. This project was not just to fill affordable housing but about how do we leverage the resources and the capacity that Capitol Hill has to benefit these community priorities,” says Christopher Persons, CEO of Capitol Hill Housing. “The guiding star of the ultimate goal was maximizing opportunity for the African-American community, and we really accomplished that at this project.”
The six-story building features 115 studio, one-, and two-bedroom units for households earning 30% to 60% of the area median income. It also will be home to three small black-owned businesses, including a barbershop that has been at the same Central District intersection for 30 years, first restaurant for local chef Kristi Brown, and a traditional Ethiopian coffee shop.
The building also was designed to pay homage to the history of the community. A team of eight local black artists developed installations to honor the legacy of Liberty Bank and celebrate the vibrancy of the African-American community. Original bank features, such as vault doors and safety deposit boxes, are used throughout the building.
The $33.8 million Liberty Bank Building, which was completed in February, was financed primarily with low-income housing tax credits and funds from the city’s housing levy program.
