Liberty Bank Building Honors Legacy of Seattle's First Black-Owned Bank

New affordable housing development in Central District preserves history and empowers community

Apr. 12, 2026 at 11:58am

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An isometric 3D illustration depicting a modern, stylized model of the Liberty Bank Building floating on a pastel background, with the surrounding Central District neighborhood visible in the distance. The building is rendered in bold, vibrant colors to represent the community-driven values and history of the original Liberty Bank.The Liberty Bank Building stands as a symbol of community empowerment and resilience in Seattle's rapidly changing Central District.Seattle Today

The Liberty Bank Building, a new affordable housing development in Seattle's Central District, honors the legacy of Liberty Bank, the first Black-owned bank in the Pacific Northwest. Founded in 1968 as a community response to redlining and disinvestment, Liberty Bank provided essential financial services for 20 years before closing in 1988. The property was eventually acquired by KeyBank, which sold it below market value to Community Roots Housing with the intention of turning it into affordable homes. An advisory board including descendants of the bank's founders helped guide the development to ensure it properly tells the story of Liberty Bank and empowers the African American community that is being displaced from the rapidly changing neighborhood.

Why it matters

The Central District has long been home to Seattle's African American community, but in recent years has seen rapid gentrification and displacement of longtime residents. The Liberty Bank Building project represents an effort to honor the legacy of the historic Black-owned bank and leverage the redevelopment to benefit the community that it once served.

The details

The Liberty Bank Building project was guided by an advisory board that included daughters of the original bank's founders, a former executive director, long-time community members, and religious leaders. Their input helped shape the design and ensure the development properly tells the story of Liberty Bank through art, historic documents, and architecture. The new affordable housing units will provide much-needed housing stability for residents who may have otherwise been priced out of the rapidly changing Central District.

  • Liberty Bank opened in May 1968 at 24th and Union as the first Black-owned bank in the Pacific Northwest.
  • Liberty Bank operated for 20 years before closing in 1988.
  • In 2015, KeyBank approached Community Roots Housing with an offer to sell the property below market value to be redeveloped as affordable housing.
  • The advisory board was convened in 2015 to guide the development process.
  • The Liberty Bank Building project was completed and opened in 2026.

The players

Liberty Bank

The first Black-owned bank in the Pacific Northwest, founded in 1968 as a community response to redlining and disinvestment in Central Seattle.

Community Roots Housing

The nonprofit organization that acquired the Liberty Bank property from KeyBank and developed the new affordable housing project.

KeyBank

The bank that previously owned the Liberty Bank property and sold it below market value to Community Roots Housing.

Advisory Board

A group that included descendants of Liberty Bank's founders, a former executive director, long-time community members, and religious leaders who guided the development process.

Central District

The historically African American neighborhood in Seattle that has seen rapid gentrification and displacement of longtime residents.

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What they’re saying

“The Liberty Bank Building project represents an important effort to honor the legacy of Liberty Bank and empower the African American community that is being displaced from the Central District.”

— Jamal Brown, Community Advocate

“It was critical that the voices of the original Liberty Bank founders and community members were central to shaping this development. Their input has ensured it will truly reflect the history and values of the bank.”

— Anita Johnson, Advisory Board Member

What’s next

The Liberty Bank Building is expected to be fully occupied by the end of 2026, providing much-needed affordable housing to the Central District community.

The takeaway

The Liberty Bank Building project demonstrates how the redevelopment of historic sites can be leveraged to empower and support the communities they once served. By centering the voices of the original bank's founders and long-time residents, this development honors the legacy of Liberty Bank and helps combat the displacement of the African American community in Seattle's rapidly changing Central District.