Mike McGinn (former Mayor)
SUBJECT: City announces $27 Million in affordable housing investments
12/16/2013 3:30:00 PM
City announces $27 Million in affordable housing investments
Levy funds to support vulnerable residents
SEATTLE - Mayor Mike McGinn and Office of Housing Director Rick Hooper have announced over $27 million in affordable housing investments, funded primarily from the Seattle Housing Levy. The 2013 funding awards are provided to housing organizations in Seattle who will build or preserve 432 quality rental units that are rent-restricted for at least 50 years.
"These projects will help provide affordable housing to more residents, including those who are homeless," said Mayor Mike McGinn. "I want to thank Seattle voters who are making it possible to provide more people with an affordable home through their strong support for the Housing Levy."
"This is a significant award to the Latino community and communities of color that will allow us to build assets and meet multiple community needs including affordable housing for low-income working families and affordable multicultural community/civic gathering spaces," stated Estela Ortega, Executive Director of El Centro de la Raza.
Each year, the Multifamily Rental Housing Program provides funding to support the development of affordable housing for priority populations such as low-income seniors and families and homeless individuals. The projects funded in 2013 include:
- Plaza Roberto Maestas, El Centro de la Raza: 113 units for low-income families, located near the Beacon Hill light rail station;
- Interbay Supportive Housing, DESC: 97 units for homeless individuals, located in the Interbay neighborhood;
- Western Avenue Senior Housing, Pike Place Market PDA: 40 units for low-income seniors at the Market;
- Jackson Workforce Housing, Low Income Housing Institute: 60 units for low-wage individuals and families in the Central District;
- Haines Apartments, Capitol Hill Housing: preservation of 30 units of low-income housing, currently occupied by seniors and disabled residents on Capitol Hill;
- Parker Apartments, Bellwether Housing: 50 units for low-wage individuals and families will be acquired and renovated on north Queen Anne;
- Santos Place, Solid Ground: 42 units of housing for homeless individuals will be renovated in the former Sand Point Naval Station.
Each dollar of the $27 million invested by the City of Seattle will leverage $3.00 in non-city funding for a total of over $108 million in total development cost.
"The Office of Housing is proud to support our community partners who do an amazing job building quality housing for our low-income residents," stated Hooper.
The Office of Housing has funded over 11,000 units of affordable housing since the first low-income housing bond measure in 1981. The current housing levy, approved by voters in 2009, is up for renewal in 2016.
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