Ground to be broken on affordable housing in South Lake Union
Families looking for affordable housing in Seattle will eventually have more options.
Ground will be broken for apartments in South Lake Union on Dexter Avenue North near Aurora Avenue, Tuesday.
The 71-unit building, named Anchor Flats, will have rents ranging from $840 to $1,200, or half the market rate for the area.
Bellwether Housing, which will manage the building, said the apartments are being built with money from the $290 million housing Levy that passed in August for more affordable housing.
Officials from the City of Seattle said they want to create thousands of affordable housing units.
Lower-income families have seen rents in Seattle skyrocket and found themselves pushed out unless affordable options exist.
“Our vacancy rate is almost zero. Once a vacancy pops up, it’s taken almost immediately by a family who needs it,” said Susan Boyd with Bellwether Housing.
Bellwether Housing says they hope the Anchor Flats building will serve people who make single-person incomes around $35,000 a year.
This groundbreaking will have presentations from people like Mayor Ed Murray.