Dive Brief: The Seattle Social Housing Developer Board last week unanimously approved a location in the city’s Central District for its first social housing construction project.
The project will include around 20 mixed-income homes, at least half with two to three bedrooms, and will cost an estimated $15 million.
The organization purchased its first building, a 150-unit apartment complex, earlier this year and expects to own around 1,000 homes by the end of 2027.
Dive Insight: The Seattle City Council in February approved an interlocal agreement with SSHD, transferring $115 million for the entity to carry out the city’s vision for publicly owned housing meant to address an affordable housing shortage.
The lottery for its 150-unit social housing apartment complex earlier this year drew more than 10,000 applicants, the Seattle Times reported.