Central Area Development Association Programs
CADA Develops Mixed Use Projects. Mixed use buildings allow CADA to simultaneously create business, employment and housing opportunity in one place. Pursuing these projects allow CADA to capitalize on developable land while maximizing the creation of community resources. These projects replace vacant land and improve the neighborhoods curb appeal. They also provide mixed income housing opportunity for households at or below 80% of the area median income.
CADA Develops Multifamily Buildings. Multifamily projects allow CADA to create and preserve affordable housing opportunity. These projects offer housing opportunity to households at or below primarily 30-65% of the area median income.
CADA also pursues Neighborhood Stabilization Programs (NSP's). CADA is approved via Chase Bank to purchase some of their residential foreclosures to rehab and rent or re-sell to create affordable housing opportunity. CADA is also working to designate Jackson Street as a Business Improvement Area (BIA). This designation via the City of Seattle will allow Jackson Street business owners access to earmarked funding for training, technical support and corridor improvements.
Recent Successes and Current Challenges
CADA recently completed its third mixed use project, Squire Park Plaza. Squire Park Plaza offers 59 mixed income apartments above 11,000 sqft of retail and office space. These apartments provide 29 market rate units and 30 units for households between 50%-80% of the area median income. The plaza replaced a 30 year vacant land lot. Squire Park Plaza is the first mixed use project CADA has completed as the sole developer.
CADA's most critical need is general operating support. As a non profit developer, CADA's core business is real estate development. CADA utilizes general operating support to pursue project and program feasibility as well as develop. The management of these projects and programs by CADA's staff utilizes general operating support. General operating support funding will allow CADA to strengthen its capacity allowing it to maintain and grow the organization.