Bridge Housing completes first phase of nearly 300-unit St. Luke’s development
Nonprofit housing developer Bridge Housing has completed what it describes as the first affordable apartment project in Seattle’s Ballard neighborhood in over 20 years.
The newly built St. Luke’s Apartments is an eight-story building with 84 units and is part of a larger two-building development that will deliver nearly 300 apartments. The project is located on the grounds of St. Luke’s Episcopal Church at 2035 Northwest 58th Street.
This redevelopment is part of a wider initiative by the city to increase affordable housing in Ballard, an area known for its walkability. However, rising construction and financing costs have slowed down new multifamily developments in recent years. Current average rents in the area are about $2,020 per month, slightly below the Puget Sound average of $2,097, based on CoStar data.
The apartments at St. Luke’s include studio to three-bedroom units and are reserved for households earning between 50% and 60% of the area’s median income, which is approximately $128,000 annually, according to census figures.
Bridge Housing, headquartered in San Francisco, partnered with builder Exxel Pacific to begin construction in 2024. The project was designed by Perkins Eastman and developed on church-owned land through a ground lease agreement with the Episcopal Diocese of Olympia, which has owned the property since the church was established in 1891.
A second building planned for the same site at 5710 22nd Avenue NW will include more than 200 additional units, including workforce and market-rate housing. Construction on that phase is expected to begin later this year or by 2027.
This development is one of the first completed under a 2021 Seattle policy that encourages affordable housing projects on land owned by religious organizations. The policy allows for increased building height and density beyond standard zoning limits.
Church leadership has expressed strong support for the project, emphasizing its role in addressing housing needs and preventing homelessness among working families.
Funding for the $66 million project was provided by multiple organizations, including UnitedHealth Group, the Seattle Office of Housing, the Seattle Housing Authority, the Washington State Housing Finance Commission, and JPMorgan Chase.
Bridge Housing continues to expand its presence in the region, with other developments such as the 328-unit Coronado Springs and the 235-unit CopperLeaf Northgate in Seattle.
Additionally, the company launched another two-building project in Bellevue last year, supported by Amazon’s $3.6 billion Housing Equity Fund. The 234-unit Spring District development is expected to be completed in 2027.
Source: Original reporting by Randyl Drummer, CoStar News.
