LSI 2010 Real Estate Joint Ventures conference materials.pdf

John W. Hanley, Jr. of Davis Wright Tremaine LLP
Tom Tierney of Seattle Housing Authority
Gary A. Young of Polygon Northwest Company
Hal Ferris of Spectrum Development Solutions LLC
Large-scale Residential Development in Public-Private Partnership
Page 2 of 8
Speaker 13: 2
Speaker 14: 2
Speaker 15: 2
Speaker 16: 2
investment, improve efficiencies and result in more timely completion, foster better
environmental outcomes, improve service to the community, and bring the parties
mutual rewards through an allocation of resources and risks. (www.ncppp.org)
Most of these advantages are present in the case of the development of High Point. They
will need to be stretched and enhanced if we are to find success in the development of a
new urban neighborhood at Yesler Terrace. The following sections provide background
on the two projects and examine the partnerships that have been demonstrably effective
at High Point and may yield significant benefits at Yesler Terrace.
HIGH POINT
At the end of the last century, High Point residents, community leaders, and Housing
Authority employees started to dream about a new neighborhood for 4,000 residents on a
beautiful hilltop site in West Seattle.
Now, with all of the rental housing and about half of the for-sale homes completed, more
than 3,000 people already live in this new neighborhood. What was once an isolated area,
home only to those with very low incomes, has become an award-winning, mixed-income
community that is a national model for sustainable development.
The new neighborhood is characterized by pride of ownership among all residents,
whether they rent or own. High Point now features well-designed homes that work for a
wide range of people, from elderly singles to large families. It is a richly diverse place
where people of many cultures, backgrounds and incomes live together as good
neighbors.
High Point’s streets are purposely narrow, to help slow cars and increase pedestrian
safety. Wide sidewalks encourage walking. To help bring neighbors together, homes
feature porches close to the street, and parks, playgrounds, and gardens are found
throughout the community.
New neighborhood amenities serve both the residents of High Point and the surrounding
neighborhood. The Seattle Public Library has opened a new High Point branch, and
Neighborcare Health has created a spacious new facility next to the library for its High
Point Medical & Dental Clinic, which serves area residents in 24 languages.
Neighborhood House recently opened a state-of-the-art neighborhood center, home to a
Head Start program, on-site job training, offices for social service workers, and an afterschool
gathering place for area teenagers.
Law Seminars International | Real Estate Joint Ventures and Funds | 02/08/10 in Seattle, WA
2