Constructed in 1911, this building was once the grand New Richmond Hotel. In 1970, the building, located in the International Special Review District, was converted into 240 units of low-income housing. More recently, CLARK | BARNES worked with the new owner to renovate the building. The Addison will continue to provide affordable housing, as well as ground floor retail and basement artist studios. Twelve additional residential units were added, along with life safety improvements, fire sprinklers, and seismic upgrades. Lobby improvements made the ground floor more hospitable and accessible. Residential amenity spaces were added and the upper floor common areas and residential units received new finishes, casework, and lighting. The project received Historic Preservation Tax Credits, as well as Special Tax Valuation through King County.