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February 14, 2019

SHA to buy 500 units

Seattle Housing Authority

Seattle Housing Authority's board has approved the acquisition of up to 500 units of affordable housing. Rents will be restricted to people earning between 10 and 80 percent of area median income. The acquisition includes last November's $15 million purchase of the 69-unit Spring Lake Apartments in Lake City. Three other properties are under contract — one in North Seattle, and two in Southeast Seattle — bringing the total to 331 units. SHA says that, after renovations, some rents may actually decrease. SHA currently has about 8,000 units and 400 properties in its portfolio, which serves about 35,000 residents.

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