Daniel Gallagher (Nitze-Stagen) Seattle City Councilmember Sara Nelson, Peter Nitze (Nitze-Stagen), King County Councilmember Girmay Zahilay, Lily Kim (Amazon Housing Equity Fund), Josh Hile (Citizen Mint)
Daniel Gallagher (Nitze-Stagen) Seattle City Councilmember Sara Nelson, Peter Nitze (Nitze-Stagen), King County Councilmember Girmay Zahilay, Lily Kim (Amazon Housing Equity Fund), Josh Hile (Citizen Mint)
Seattle, WA – Nitze-Stagen, Housing Diversity Corporation, Amazon Housing Equity Fund, Forbright Bank and Citizen Mint are pleased to announce that construction will soon commence on Trace 4001 located at 4001 South Willow Street in Seattle's Othello neighborhood.
The project will include 195 one-and-two-bedroom units with rents restricted for residents earning between 50% and 80% of area median income (AMI) for 99-years.
"We are excited to announce this groundbreaking because it represents significant partnerships with social impact investors to keep Seattle affordable while also contributing to the vibrancy of the neighborhood and environmental stewardship," said Peter Nitze, CEO of Nitze-Stagen.
"We're excited to partner with Nitze-Stagen, Amazon's Housing Equity Fund and Forbright on this meaningful project, tackling the urgent need for housing in the Seattle area. In addition, we're proud to provide our clients with distinctive alternative investment opportunities like this one that is truly unique given the partnership with Amazon."
- Josh Hile, CEO and CIO of Citizen Mint
The building will include amentized indoor/outdoor rooftop spaces with views of Mt. Rainier and a ground-floor fitness center, designed to be flexible for a variety of uses. At the corner of South Willow Street and Martin Luther King Jr. Way, adjacent to the building, Nitze-Stagen has designed a landscaped public plaza for resident and community use.
"Public private partnerships aimed at building affordable workforce housing are crucial in addressing our region's housing crisis and maintaining neighborhood diversity," commented King County Councilmember Girmay Zahilay, who represents South Seattle. "By adding 195 attainably priced apartment homes, this project ensures that families of all incomes can continue to call Othello home. Othello is not only a wonderful and diverse neighborhood but for generations has been ground zero in providing housing for those economically displaced. I'm proud to support this important work and look forward to seeing the positive impact that partnerships like this will have for our community."
Artist Markel Uriu was selected to build upon her abstract weaving process to create a large-scale collage comprised of images sourced from historic and contemporary migrations and changing physical and cultural landscapes of the Othello neighborhood. The project's name is derived from her blend of images that Trace the relationships and histories of the Othello community.
Trace 4001 is anticipated to open in late 2026. For more information about the project and Nitze-Stagen's affordable workforce housing initiatives, click here.
Sign up now to learn the benefits of private market investing for financial advisors
Sign up now to access private market investments on Citizen Mint’s platform.