Wisteria View Manor

Wisteria View Manor

Centennial Mortgage, Inc. (CMI) is ecstatic to announce the recent closing of a $12 million FHA 223(f) loan for Wisteria View Manor (WVM). Built in the early 1980s as a Section 202 property, WVM provides housing for residents who receive 100% Section 8 subsidy. This six-story, stately property is located in Seattle’s International District, less than two miles from the world-famous Pike Place Market. From the top floors, elderly residents enjoy impressive views of T-Mobile Park, home of the Seattle Mariners; Lumen Field, home of the Seattle Seahawks; and the waters of Elliott Bay.

Alan Hoshino, Executive Director of WVM, shared his non-profit board’s dream to rehabilitate the property and build new affordable housing in Seattle with CMI’s Mission Mavens, Sunny Fitzgerald and Cindy Ross. CMI was engaged to help fulfill the owner’s goals, and strategic planning for WVM’s future began. Despite a few starts and stops, we overcame a pandemic, rising interest rates, high inflation, and an evolving Seattle rental market.

Thanks to the combined efforts of the board and the CMI Underwriting Team, including Connor Danigelis and Ceheira Johnson, WVM now has the funds to complete the building’s rehabilitation and seed money to add affordable housing units for Seattle residents. CMI is proud that our team contributed to making the owner’s dream a reality!