Kathleen Hosfeld (front, second from left) holding up plans of proposed homes. (Photo by Assunta Ng)
Mayor Jenny Durkan signed into law her new housing legislation on Sept. 6. The legislation allows the transfer of a City-owned surplus property on Yakima Avenue South in Seattle’s historic Central District to facilitate the development of housing for homeownership. This land transfer will be made at no cost to Homestead Community Land Trust, whose office is in Chinatown, in exchange for 10 permanently affordable homes catering to homebuyers at or below 80 percent of area median income, $88,250 for a family of four, and six homes at market rate.
All net proceeds from the market rate homes will be used to subsidize the cost of the affordable homes.