Seattle Social Housing Developer Acquires First Building near Pike Place Market

The Seattle Social Housing Developer has acquired its first building, clearing the way for it to begin renting to new tenants. SSHD interim CEO Tiffani McCoy announced the purchase Friday morning at a media event at Pier 58 in Downtown Seattle.

"The Seattle Social Housing Developer is acquiring an apartment complex right next to world-class amenities," McCoy said. "It's called Elara at the Market, and it's right next to our beloved Pike Place Market and our new Waterfront Park. It's currently a private asset, and we will be bringing it into public ownership. The building itself has 150 units, all in excellent condition. As of today, our lottery to apply for this housing is live on our website."

Interested tenants can apply here. McCoy noted that SSHD will eschew junk fees or hidden charges and intends to offer free, one-year ORCA transit passes to all residents.

On Thursday, the SSHD board approved a $60.9 million purchase of Elara at the Market, which is located at Western Avenue and Blanchard Street in Belltown. The building price works out to $406,000 per unit. Elara was built in 2018, and includes mostly one-bedroom and studio apartments, but also some two-bedroom units on upper levels.

https://www.theurbanist.org/seattle-social-housing-developer-acquires-first-building-near-pike-place-market/