The present study is concerned with the simultaneous optimization of the size of components and the arrangement of connections for performance-based seismic design of low-rise SPSWs. Design variables include the size of beams and columns, the thickness of the infill panels, the type of each beam-to-column connection and the type of each infill-to-boundary frame connection. The objective function is considered to be the sum of the material cost and rigid connection fabrication cost. For comparison purposes, the SPSW model is also optimized with regard to two fixed connection arrangements. To fulfill the optimization task a new hybrid optimization algorithm called CBO-Jaya is proposed. The performance of the proposed hybrid optimization algorithm is assessed by two benchmark optimization problems. The results of the application of the proposed algorithm to the benchmark problem indicate the efficiency, robustness, and the fast convergence of the proposed algorithm compared with other meta-heuristic algorithms. The achieved results for the SPSWs demonstrate that incorporating the optimal arrangement of beam-to-column and infill-to-boundary frame connections into the optimization procedure results in considerable reduction of the overall cost.