(The Center Square) – The Seattle Office of Housing is funding up to $3 million toward the creation of 21 permanently affordable homes in the West Seattle District.
The funding will go to the Homestead Community Land Trust to redevelop the former Dumar Substation site, where the 21 permanent affordable housing units will be built. The site was formerly owned by Seattle City Light.
“This development is an excellent example of how public land can be transformed into a lasting community asset, providing not only homes but also spaces for local businesses to thrive,” Seattle Mayor Bruce Harrell said in a news release.
Homestead Community Land Trust was chosen as the awarded recipient of the grant because it plans to create affordable homeownership units, as well as integrate ground-floor commercial space.
All of the 21 units will be available to buyers earning at or below 80% of the Seattle area median income, which is approximately $63,000.
“This homeownership project in my district’s Highland Park fulfills a great need and will include affordable homes to accommodate families,” Seattle City Councilmember Rob Saka said. “This is an excellent model of transferring Seattle City Light surplus property to create permanently affordable housing.”
Seattle has worked to address a need for affordable housing throughout city limits. Seattle voters recently approved a renewal of the Seattle Housing Levy that is anticipated to collect $970 million through 2030, or $138.6 million annually.
This tax levy starts at 45 cents per $1,000 of assessed value, or $383 a year for the median Seattle homeowner.
The generated funds are anticipated to support the development of more than 3,100 affordable housing units.
