Seattle's First Social Housing Building Receives 10,000 Applications

en.Wedoany.com Reported - Seattle's first social housing building has opened for applications, receiving over 10,000 applications for 150 units.

According to a report by Heidi Groover, a reporter for The Seattle Times, the developer received a total of 10,243 applications during a two-week lottery period that ended last Friday. Starting Monday, the agency plans to randomly select applicant names. It will first offer apartments to individuals earning 30% or less of the area median income—approximately $34,500 for a single person—until the roughly 15 such vacant units in the building are filled.

According to Groover, the Seattle Social Housing Developer, a publicly funded development agency, stated it will pay nearly $61 million to purchase the Elara building. This marks the first acquisition since voters approved the creation of the public developer three years ago and authorized funding sources last year. According to county records, the transaction has not yet been formally completed.

Seattle needs approximately 100,000 new housing units over the next two decades to meet demand. The social housing agency plans to build about 1,670 new units over the next five years. Seattle funds the developer by taxing companies that pay individual employees salaries exceeding $1 million.

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