SHA acquires new apartment building to preserve as affordable housing

Verse Seattle apartments

SHA  purchased Verse Seattle, a 98-unit apartment building in the Central District, to preserve it as affordable housing for people at 80 percent or less of area median income, an area of growing need in Seattle. The purchase ensures that residents there will not be displaced by the inability to pay full market rate rent and that the 98 apartments will add to the amount of affordable housing at substantially less cost than building new units.

“The purchase of the apartments is an important step in our strategy to help preserve affordable housing in Seattle,” said SHA Executive Director Rod Brandon.