A new affordable housing development at the corner of 23rd and Cherry with a focus on equity, inclusion and true community benefit. Construction to start in 2023 and doors opening in 2025.
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AFfordable housing, community-focused retail
120 apartments, with units that address all segments of the City’s affordability needs. 8 retail spaces which will serve the communities needs, including an all-day restaurant and an affordable childcare facility.
A truly diverse team
8 retail units reserved for community-oriented businesses, including a pre-school, community restaurant, and affordable micro-retail. Current retail tenants have first right of refusal on the new spaces.
Anti-racism and equity principals built in from the very beginning, shaping all aspects of the development. The project is dedicated to inclusion, shared wealth creation, and community building.
In honor of the Central Area’s rich Black heritage and the personal backgrounds of our project team, Acer House is contributing to the evolution of Afro-futurism in urban architecture. Afro-futurism will be integrated into the place and time of development in a tasteful and compelling manner.
The Central Area and the Garfield Super Block
Acer House sits at the intersection of 23rd and Cherry, an integral part of the “Garfield Super Block”, the cultural heart of the Central Area. Read more about how this important location has shaped our project.
Contract Rezone and the Permitting Process
To achieve Acer House’s vision, we will require a contract-rezone from the Seattle City Council. Learn more about this process and how you can help.
“The Acer House Project Team is a truly collaborative and inclusionary assembly of highly qualified professionals that are aligned with the mission and goals of the project in a way that I have rarely experienced. This team is servicing more than the development of a mixed-use building – members of the team embrace the social justice and community healing actions represented by the owners of the property. It is my honor and pleasure to be a partner in this ground-breaking work.”
“Creating vibrant communities where businesses can thrive and contribute to the local economy is dependent upon them being able to afford the spaces they are in. Our goal is to provide affordable leasing terms and access to resources for additional support. We believe in partnering with businesses to ensure their success because their success is our success”
Equitable Development refers to the practice of building new mixed-use structures that advance equity in their community, including by avoiding displacement, building diversity, and broad-based wealth creation.
All current tenants, retail and commercial, will be given first-right of refusal on the new spaces that will be developed. All landowners on the site are joining the project as partners.
Acer House is committed to building diversity in the Real Estate industry by ensuring each category of procurement includes a final round proposal by a MBWE firm. Already, over 80% of spend is with MBWE firms.
Broad-based wealth creation
Acer House is creating a crowd-funded community co-investment fund to ensure that people with roots in the Central Area, especially People of Color, have access to the wealth that will be created through the development.
join us as an investor
A significant portion of the capital needed for the construction of Acer House will be raised through a crowd-funding from the local community. This fund will be affirmatively marketed to People of Color and residents of the Central Area, in an attempt to ensure our goal of broad-based wealth creation. Urban Black LLC will be the sponsor of this crowd-fund, which we plan to open in the fourth quarter of 2021.