Press Release
Boston Capital Invests in Affordable Multifamily Green Development in Seattle, WA
February 11, 2010
121 kb
Property will include water and energy conservation fixtures and energy-efficient appliances.
February 11, 2010 – Boston Capital invested in Zephyr Apartments, a to-be-built, 25-unit multifamily
development located in Seattle, Washington. The general partner is the King County Housing Authority,
which delivers affordable housing and related supportive services to more than 40,000 residents in
need.
"We are pleased to invest in Zephyr Apartments and partner with King County Housing, in the production
of high-quality, affordable housing units in an area experiencing significant population and employment
growth," said Jeff Goldstein, chief operating officer and director of Real Estate at Boston Capital.
Zephyr Apartments will include seven two-bedroom, 13 three-bedroom, four four-bedroom and one
five-bedroom units in nine two-story buildings. All units will be equipped with a washer/dryer,
dishwasher, patio/balcony and storage. Development amenities will include a garden and a park with
public art in the central courtyard.
The development will utilize a water garden system to produce clean water through an on-site,
state-of-the-art, sand filter water pond. Green components will also include water and energy efficient
appliances and fixtures and environment-friendly paint and primers, HVAC equipment, water heaters,
50-year roof systems, cementicious siding and exhaust fans.
"The emphasis on energy efficiency is indicative of Boston Capital’s efforts to increase the
sustainability of its portfolio and focus on "greening" multifamily developments," added Goldstein.
Zephyr Apartments is located within the Seola Gardens HOPE VI Project, a mixed-income, master planned
community funded in part with HOPE VI funds. Units will be available to residents at 60% or less of
the Area Median Income (AMI), including 13 units set aside for households earning 50% or less of AMI.
The Greater Seattle area is an international center for manufacturing, high technology industries,
aerospace, trade and tourism and accounts for over 60 percent of the state’s total employment growth.
Zephyr Apartments is located within close proximity to public transportation, education, recreation and
employment centers and supportive services for seniors and families.
About Boston Capital:
Boston Capital, headquartered in Boston, MA, is a real estate investment and advisory firm specializing in
tax advantaged investments for multifamily housing and equity investment in market rate apartment
communities. Boston Capital’s holdings include more than 2,575 multifamily apartment properties in 49 states
and the District of Columbia, constituting more than 162,677 apartments with a development cost in excess
of $12 billion. Boston Capital is the second largest owner/investor of apartment properties in the US.
For more information contact:
Allison Marino
Corporate Communications
Boston Capital
One Boston Place
Boston, MA 02108-4406
(617) 624-8678