City of Seattle announces 2 permanently affordable sites to increase homeownership
Seattle Mayor Jenny Durkan has announced an expansion of affordable housing homeownership opportunities on two surplus city-light properties.
Twenty-seven permanent housing options for low to moderate-income buyers will be built in the Phinney Ridge neighborhood in north Seattle and in the Loyal Heights neighborhood in Ballard.
"Owning a home is the primary catalyst for economic mobility and advancement, particularly for underserved populations," said Brett D'Antonio, the CEO for Habitat for Humanity of Seattle.
In Loyal Heights, $720,000 will be given to build eight, three-bedroom townhomes. Homestead Community Land Trust will get $1.5 million to develop 19 condominiums in Phinney Ridge.
City Light will transfer the properties to the non-profit developers at no cost.
https://www.msn.com/en-us/money/realestate/city-of-seattle-announces-2-permanently-affordable-sites-to-increase-homeownership/ar-AAGRXpn