By Stephen Nakrosis
The Housing Authority of the City of Seattle is offering $49.4 million in revenue bonds to support construction of an affordable housing project in the city.
The bonds will be offered in two tranches: a $30.4 million tranche with a maturity date of Dec. 1, 2029, and $18.9 million of term bonds with a maturity date of Dec. 1, 2032, according to documents on MuniOS.
Interest on the bonds is exempt from federal taxes.
The Jackson Park Village project will consist of a low-income multifamily apartment complex, which is expected to contain about 100 units.
The project is expected to consist of an apartment building with some 86 units, as well as three multiple-unit townhouse buildings. The site will also contain a community room, laundry room and a property-management office.
Proceeds from the offering would be loaned to a Washington limited liability partnership, whose sole general partner is the Authority. The partnership will be responsible for building and equipping the project. The bonds will be backed by payments made to the authority from the partnership, along with the general revenues of the Authority and other funds in certain accounts.
S&P Global Ratings has given the bonds a rating of AA.
KeyBanc Capital Markets is listed as the offering's manager.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
December 08, 2025 15:57 ET (20:57 GMT)
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