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Hilltop Manor



OVERVIEW: Hilltop Manor is a 35 bed DSHS licensed boarding home purchased by Community House in 1998 and refinanced in 2004. Hilltop Manor, like Spring Manor, is 24 hour staffed facility purchased from private sector owners. Hilltop Manor was different than Spring Manor in that it had a DSHS contract for clients who had medical issues or were aging. Community House clients were aging but wanted to still receive services from Community House and the Hilltop Manor purchase allowed the agency to do this. Community House was evolving to provide a full continuum of services to meet a variety of client needs. Board of Directors felt that it was imperative that these places continued to house our clients rather than being sold and redeveloped.

CLIENT PROFILE: Clients must be through contract with through DSHS.

LOCATION: 1732 16th Ave. Seattle, Wa. 98122

ACQUISTION/CONSTRUCTION FUNDING: In 2004 Hilltop Manor was most purchased in combination with refinancing and rehabilitation of Spring Manor under the HUD 232 Guaranteed Loan Program. The Federal Home Loan Bank also contributed to the refinance purchase of Hilltop Manor.

OPERATING SUBSIDIES: Hilltop Manor does not receive subsidies for operation. All operations are supported by client monies and service dollars from DSHS Operations are therefore vacancy sensitive.
LOAN TERMS: Loan of approximately $1.4 million dollars at 6.55% payable principal and interest of $9,174 monthly through October 2028.

GRANTS: Federal Home Loan Bank grant of $184,815 that is completely forgivable after 15 year term ending September 30, 2020 as long as project serves people below 50% median income. All clients served at Hilltop are well below this at 30% of median and below because these are only clients referred under DSHS contract.

 

 


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