Seattle Housing Authority to purchase site at Yesler from King County
For media release:
SEATTLE—September 7, 2017—As part of the redevelopment of Yesler Terrace, the Seattle Housing Authority (SHA) is purchasing a 48,000 square foot site in the eastern portion of the Yesler neighborhood. SHA and King County have signed a Purchase and Sale Agreement for the property at 1215 E Fir St., where King County has a records storage facility that it plans to relocate. The purchase price for the property is $7.1 million. The sale, if approved by the King County Council, is expected to close in the fourth quarter of 2018.
SHA will be seeking a nonprofit partner to develop and operate approximately 125 affordable apartments, with an emphasis on family-size units. The location is near Bailey Gatzert School, which is attended by almost all of the elementary age children living at Yesler.
Having a nonprofit housing provider as part of the new Yesler Terrace community is an element of SHA’s master plan for transforming 561 decaying units into a vibrant mixed-income community with one-to-one replacement of the older housing, more than 1,100 additional affordable homes and approximately 3,000 apartments offered by private developers at market rate. SHA just opened its third new residential building at Yesler, Hoa Mai Gardens, bringing the total to 216 new units toward the 561 replacement goal.
“The King County site, close to the school, transit options and other amenities, is the perfect location for affordable housing focused on families,” said SHA Executive Director Andrew Lofton. “We appreciate the County’s commitment to affordable housing. This will further enhance the transformation of this historic community while ensuring that there remains housing that is affordable.”
"Our region is experiencing phenomenal growth, and rising rents and home prices are putting the squeeze on residents who earn a lower income," said King County Executive Dow Constantine. "By working with the Seattle Housing Authority, we're helping build the safe, affordable housing we so desperately need in King County."
In addition to housing, the new Yesler community includes major infrastructure upgrades, a central park, three pocket parks, garden plots, a hillclimb connecting with neighborhoods to the south, pedestrian thoroughfare, “green street” loop with exercise stations, renovated community spaces, arts programming and expanded resident services. A U.S. Department of Housing and Urban Development Choice Neighborhood Initiative grant, and funding from the City of Seattle, JPMorgan Chase and select property sales to private developers are supporting construction and other redevelopment costs.
Director of Communications
Seattle Housing Authority
King County Department of Executive Services
About Seattle Housing Authority
The mission of the Seattle Housing Authority (SHA) is to enhance the Seattle community by creating and sustaining decent, safe and affordable living environments that foster stability and self-sufficiency for people with low incomes. SHA provides long-term, low-income rental housing and rental assistance to more than 34,000 people in the City of Seattle. SHA owns and operates approximately 8,000 units at nearly 400 sites throughout the city. SHA also handles more than 10,000 Housing Choice Vouchers, enabling low-income residents to receive rental assistance throughout the Seattle housing market. SHA, a public corporation established in 1939, is governed by a seven-member Board of Commissioners, two of whom are SHA residents. Commissioners are appointed by the Mayor and confirmed by the City Council. More information is available at seattlehousing.org.