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Seattle & Northwest  + Seattle  + Healthcare  | 
Seattle apartment rents exceed the averages for Washington State and the U.S.

KeyBank Secures $14M Financing for Everett Affordable Development

KeyBank Community Development Lending and Investment (CDLI) secured $13.7 million of construction financing on behalf of Compass Health to build an affordable housing property in Everett, WA. Broadway Permanent Supportive Housing will be a five story, 82-unit, permanent supportive housing facility that will provide services for mentally ill homeless people.

The project will be constructed next to the Compass Health campus. Plans include four floors of housing above a ground floor containing 3,000 square feet of commercial space with, offices for services, management and administration. All units, which will have kitchens and baths, will be 388-square-foot studios, except for one three-bedroom unit for the manager.

Residents will be people with chemical dependency, mental health or a co-occurring disorder, and the housing must be a component of a coordinated chemical dependency or mental health treatment plan.

Brett Sheehan of KeyBank’s Community Development Lending Group structured the financing. National Equity Fund provided tax credit equity.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Development