Hilltop

What Hilltop does

Hilltop is a Seattle-based nonprofit corporation that owns and operates a 124-unit affordable senior housing apartment building at 1005 Terrace Street on First Hill. Founded in the mid-1960s, the organization provides income-based independent living apartments to individuals aged 62 and older, with 106 of 124 units receiving rental assistance through federal and local housing programs (76 under the HUD Senior Preservation Rental Assistance Contract and 30 through Seattle Housing Authority project-based vouchers). Hilltop maintains an equal opportunity admissions policy open to all qualified seniors regardless of race, color, creed, national origin, handicap status, religion, familial status, or sexual preference.

The product offering comprises four apartment floor plans—Studio (364 sq ft), Deluxe Studio (490 sq ft), One Bedroom (593 sq ft), and Deluxe One Bedroom (728 sq ft)—all of which were completely renovated between May 2015 and July 2016 with new kitchen cabinets, flooring, bathroom vanities, walk-in showers, closet doors, and electronic door locks. Building amenities include a community garden completed in 2018 with a dozen raised beds and accessible pathways, a beauty salon, library, surveillance and controlled access systems, and 24/7 relief manager coverage. Utilities (water and electric) are included in rent, and residents have access to organized activities including fitness classes, book club, science group, art social, seminars, movies, walking club, and First Friday social events.

Revenue is generated through three recurring monthly streams: tenant rent payments, HUD subsidy payments under SPRAC, and SHA project-based voucher payments. Non-subsidized tenants pay rent calculated as 40% of income with size-based minimums and maximums ranging from $650 to $2,396, while subsidized tenants pay approximately 30% of income under published income limits. Distribution is entirely direct—units are leased through an application process with referrals sourced from HUD, SHA, social service agencies, hospitals, and community partners including Seattle First Baptist, Seattle University Center for Community Engagement, and United Way of King County. The organization is managed by a 39-person staff led by Executive Director Thornton Bowman and Director of Finance and Operations Laurie Schuster, with no disclosed revenue, parent company, or M&A activity.

Name

Hilltop

Legal name

Hilltop House

Website

https://hilltop-house.org

Company type

Private

Founded year

1966

Operating status

Operating

Headcount range

11–50 employees

Short description

Hilltop is a Seattle-based nonprofit corporation that owns and operates a 124-unit affordable senior housing apartment building on First Hill, providing income-based and subsidized independent living apartments for individuals aged 62 and older.

Ownership category

akta.pro rank

Product category

Affordable Senior Housing

NAICS

Lessors of Residential Buildings and Dwellings (53111), Other Residential Care Facilities (623990)

SIC

Real Estate Operators (No Developers) & Lessors (6510), Services-Social Services (8300)

akta.pro primary industry

Affordable/Subsidized Independent Living (HUD/LIHTC) Communities (HLADAAAB)

akta.pro secondary industries

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC), Public & Affordable Housing Programs (Subsidies, Vouchers, Public Housing) (BPAIANAA), Housing Voucher & Rental Assistance Programs (Tenant-Based/Project-Based) (FSALAKAI), Active Adult (55+) Independent Living Communities (HLADAAAD)

Keywords

• Affordable senior housing
• Senior living apartments
• Subsidized housing
• Independent living
• Senior community

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Revenue model

1. Apartment Rental Income: Hilltop generates revenue through monthly rental payments from its 124 units. Rent is calculated on 40% of tenant income with minimum and maximum amounts based on unit size. For subsidized units, tenants pay approximately 30% of their income.
2. HUD Subsidy (SPRAC): 76 units are funded through HUD's Senior Preservation Rental Assistance Contract (SPRAC). HUD pays the difference between tenant contribution (approximately 30% of income) and the contract rent.
3. Seattle Housing Authority Project-Based: 30 units are funded through SHA project-based vouchers, providing rental assistance to qualifying low-income seniors.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Hilltop is a nonprofit corporation that owns and operates a 124-unit apartment building in Seattle's First Hill neighborhood, providing affordable independent living apartments to individuals aged 62 and older. The portfolio consists of four unit types — Studio, Deluxe Studio, One Bedroom, and Deluxe One Bedroom — with rent calculated as a percentage of income. Approximately 106 of the 124 units are subsidized through HUD's SPRAC program (76 units) and Seattle Housing Authority project-based vouchers (30 units).

Product overview

Hilltop is a nonprofit senior housing community offering affordable apartments for individuals 62 and older in a 124-unit building in Seattle's First Hill neighborhood. The portfolio consists of four apartment types: Studio (364 sq ft), Deluxe Studio (490 sq ft), One Bedroom (593 sq ft), and Deluxe One Bedroom (728 sq ft). All units have been newly remodeled with updated cabinets, countertops, flooring, bathroom vanities, and electronic door locks as part of a 2015-2016 renovation. The community provides amenities including a community garden, beauty salon, fitness center, library, and organized activities. Rental assistance is available through SPRAC (HUD-funded) and Seattle Housing Authority programs for qualifying residents.

Differentiator

Problem solved

Functional benefit

Products and services

• Studio Apartment Sun-filled, open apartment of approximately 364 sq ft with views of the garden and Cascade Mountains, newly remodeled with new cabinets, countertops, bathroom vanities, and wall-to-wall carpeting. Rented to seniors aged 62 and older with rent at 40% of income (minimum $650/month, maximum $1,884/month non-subsidized).
• Deluxe Studio Apartment West-side apartment of approximately 490 sq ft with generous closet space and a large picture window providing abundant natural light. Newly remodeled. Non-subsidized rent ranges from $750/month minimum to $2,053/month maximum.
• One Bedroom Apartment Light-filled corner apartment of approximately 593 sq ft with cross ventilation and outstanding views, newly remodeled with new cabinets, countertops, closet doors, and bathroom vanities. Non-subsidized rent ranges from $950/month minimum to $2,145/month maximum.
• Deluxe One Bedroom Apartment Largest unit at approximately 728 sq ft on the east side with views of the garden and Cascade Mountains, featuring double closet space and two bathrooms. Non-subsidized rent ranges from $950/month minimum to $2,396/month maximum.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• Beacon DevelopmentcoreImplementation/ SI/ Consulting Partner · 1 January 2015Development partner that assisted with the complete building renovation from May 2015 to July 2016.
• SMR ArchitectscoreTechnology or Integration · 1 January 2015Architectural firm that designed and oversaw the building renovation project.
• Walsh ConstructioncoreImplementation/ SI/ Consulting Partner · 1 January 2015Construction company that completed the building-wide renovation including all 124 units.
• Seattle First BaptistminorStrategic or Co-development PartnerCommunity partner that collaborates with Hilltop on activities and community engagement programs for senior residents.
• Seattle University - Center for Community EngagementminorStrategic or Co-development PartnerAcademic community partner providing volunteer support and community engagement opportunities for seniors.
• United Way of King CountyminorStrategic or Co-development PartnerCommunity partner supporting Hilltop's mission to provide affordable housing and community programs for seniors.

Scale indicators4 records

Recent moves6 records

Expansion highlights2 records

Direct peers

• Senior Housing Assistance Group (SHAG): SHAG is a Seattle-area nonprofit operating affordable independent living communities for seniors 62+, directly comparable to Hilltop in resident demographic, subsidy model, and service offerings across multiple properties.
• Bellwether Housing: Bellwether Housing is a Seattle-based nonprofit affordable housing provider serving low-income residents including seniors, operating multiple properties with HUD and SHA partnerships comparable to Hilltop's subsidy stack.
• Low Income Housing Institute (LIHI): LIHI operates a portfolio of affordable housing properties in Seattle with HUD and SHA subsidies, serving low-income households including seniors, with similar property management models to Hilltop.
• National Church Residences: National Church Residences is one of the largest nonprofit affordable senior housing operators in the US, managing HUD Section 202 and SPRAC properties serving the same 62+ independent living population as Hilltop.

Regional players

• Plymouth Housing: Plymouth Housing is a Seattle nonprofit providing affordable housing, primarily focused on formerly homeless adults rather than seniors, but operates similar nonprofit/subsidy-funded housing models in the same First Hill/Downtown Seattle market.
• BRIDGE Housing: BRIDGE Housing is a West Coast nonprofit affordable housing provider including senior housing properties with HUD and local housing authority partnerships, serving similar low-income senior populations though primarily in California.

Broad incumbents

• Mercy Housing: Mercy Housing is a large national nonprofit operating affordable and senior housing with HUD subsidies, comparable to Hilltop in resident demographic and subsidy structure though at significantly greater scale across multiple states.
• Volunteers of America National Services: Volunteers of America operates affordable senior housing communities across the US including HUD-subsidized properties serving low-income seniors 62+, comparable to Hilltop's resident base and subsidy model.
• HumanGood (affordable division): HumanGood operates both affordable and market-rate senior housing communities, including HUD-subsidized independent living properties comparable to Hilltop's service to low-income seniors with affordability covenants.

Others

• Affordable Housing Concepts (King County Housing Authority partners): King County Housing Authority is a key public-sector partner and competitor in the Seattle area affordable housing ecosystem, providing project-based vouchers that fund properties serving the same low-income senior demographic as Hilltop.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/hilltophouse
• Instagraminstagram.com/hilltophouse
• LinkedInlinkedin.com/company/hilltop-house-retirement-community-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hilltop