Diocese of Olympia

04.04.2022

Heartland represented the Diocese of Olympia and St. Luke’s Episcopal Church in the redevelopment of their 55,000 square foot property in the Ballard neighborhood of Seattle. The project will create approximately 300 units of housing in conjunction with a new facility for St. Luke’s. Advising on the financial feasibility of the project, Heartland helped St. Luke’s and the Diocese maximize the creation of onsite affordable family housing for the Ballard community. Heartland’s work included the negotiation of two ground leases which will maintain the Diocese’s ownership interest in the property over time and contribute to lasting financial stability. This became an exemplary project for churches throughout the nation who are seeking to capitalize their real estate assets to benefit their mission and community.

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