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October 9, 2015

KCHA buys 286 units in Tukwila

TUKWILA — King County Housing Authority has purchased two apartment complexes totaling 286 units next to the Tukwila light rail station.

The 191-unit Villages at South Station, at 3724 S. 154th Lane in Tukwila, was purchased for $29.3 million. The 95-unit Corinthian Apartments, at 3039 S. 154th St. in SeaTac, was purchased for $10.2 million.

The purchases will preserve affordable housing on a major transit corridor. KCHA says it plans to develop or preserve at least 800 units of affordable housing in suburban King County over the next five years.

Rents at The Villages currently range from $900 to $1,500. The acquisition ensures that rents in at least half the units will remain affordable to families at or below 80 percent of the area median income.

Rents are the Corinthian range from $825 to $1,150. KCHA plans a modest rehab of the complex.

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