Project of the Week: Pearl on Oyster Bay

By JOURNAL STAFF

Pearl on Oyster Bay is a new senior housing community at 550 Russell Road in Bremerton.

The 74,000-square-foot, three-story, U-shaped building wraps around a central courtyard to encourage residents to interact.

The 80 residences have wide doorways, lowprofile transitions, slip-resistant floors and other amenities designed to enhance independent living.

The total cost was $21.1 million.

US Bank provided $11.4 million in equity financing by purchasing 9 percent low income housing tax credits made available by the Washington state Housing Finance Commission. The U.S. Department of Housing and Urban Development provided $9.7 million in HUD Section 202 capital funds and ongoing operating subsidies that allow the owner to lease apartments to extremely low-income seniors.

Pearl on Oyster Bay is part of Bay Vista Hope VI, a neighborhood developed by Bremerton Housing Authority on the 83-acre former site of Westpark public housing. The mixedincome, mixed-use neighborhood will have at least 660 living spaces when complete. Approximately 300 units will be affordable.

Owner: American Baptist Homes of the West
Development services: Beacon Development Group
Architect: Environmental Works
General contractor: Walsh Construction Co.
Other team members: BCRA Civil Design, Barker Landscape Architects, Swenson Say Faget, Emerald Aire, Robison Engineering, Ahearn Electric, AVA Siding, Tapani Plumbing, Werner Services Painting, RV Associates Excavation, RDF Construction, PSA Drywall, Tres-West Engineers and Superior Structures