SEATTLE—November 19, 2002—The Seattle Housing Authority is in the process of acquiring 37 large family units in Seattle's Central District to fulfill replacement housing goals for Holly Park, Lake City Village and Yesler Terrace. The housing authority expects to complete the transactions by December 31, 2002. In addition to contributing to replacement housing goals, these acquisitions will also help to preserve affordable rental housing in this neighborhood.

The townhouses, almost all of which were built in the 1990s, consist of three- and four-bedroom units designed for families. The original owners marketed them primarily to Housing Choice Voucher holders and the units represented a significant portion of the affordable rental housing stock of larger units in the central part of Seattle. In the last year or two, however, an increasing number of higher income tenants began renting these apartments.

SHA's purchase of these properties accomplishes several goals. It preserves affordable, large rental units, increases SHA's housing resources in a neighborhood currently under-represented in SHA's portfolio of small properties (under 20 units per location), and helps meet a variety of replacement housing goals.

Six of the units will replace six three- and four-bedroom units that will be demolished at Yesler Terrace to make way for the new community center. Concerned Yesler Terrace residents requested that the apartments be replaced as close to Yesler Terrace as possible.

Sixteen of the units will replace units demolished at Lake City Village. These units had been severely damaged by repeated flooding. The remaining fifteen units will count as replacement for old Holly Park units.