July 2023 - Heartland

SRM secures construction loan for Microsoft-backed Bellevue workforce housing project

07.19.2023

Heartland is proud to support Microsoft on this exciting project! Nuovo is a 135-unit apartment development that will be affordable to households with income of 80-100% of area median, and which will be developed by SRM. It is part of Microsoft’s $750M Affordable Housing Initiative, a multipronged effort to create innovative and replicable models to address housing affordability in the Puget Sound region.

Since 2020, Heartland has provided advice and implementation support to Microsoft on this initiative, including developer outreach, capital structuring, and opportunity underwriting and negotiation to facilitate the development and preservation of housing for people experiencing homelessness, low-income households (up to 60% of area median income), and middle-income households (60% to 120% of area median income).

South Seattle development named one of world’s best affordable projects – Orenda at Othello Square

07.12.2023

Along with Spectrum and Laird Norton Properties, Heartland is proud to have been a part of the planning and development for Orenda. Congratulations to Spectrum, Laird Norton Properties and the entire team behind this project.

Following the 2019 merger, Heartland advised LNP throughout the development process on Orenda, providing predevelopment and development budget review, partnership document review, financial analysis, and representation at construction progress meetings. Heartland now provides Asset Management services along with the rest of the Laird Norton Properties’ real estate portfolio.

Development Opportunity – Atlas Waterfront, Coeur d’Alene, ID

07.06.2023

As part of a consulting team led by Welch Comer Engineering, Heartland is managing a Request for Proposals (“RFP”) process for Area 5A, a 1.3 acre parcel at the Atlas Waterfront project in Coeur d’Alene, intended for high density mixed-use development.

The Atlas Waterfront neighborhood is anchored by a gorgeous public waterfront park, with close proximity to downtown and access to the Centennial Trail. ignite CDA, the Urban Renewal Agency (“URA”) of Coeur d’Alene, has brought the power of Tax Increment Financing (“TIF”) to bear in transforming an abandoned mill site into a stunning neighborhood with public amenities the people of Coeur d’Alene can enjoy forever. It is an example of the power of the Public-Private Partnership (“PPP”) model and the strength of a collaborative City leadership team. Heartland has been honored to play a role in bringing this project to fruition.

Please reach out to Matt Anderson manderson@htland.com or Ben Wharton bwharton@htland.com with questions on this most recent RFP.

To view the RFP for this opportunity click learn more below.