Local Developer Adds 70 Units to Seattle Affordable Housing Supply
- Oct 22, 2018
Low Income Housing Institute has opened Tony Lee Apartments in Lake City, Wash. The 70-unit building includes affordable housing apartments set aside for individuals earning at or below 30, 50 and 60 percent of the area’s median income.
Located at 2820 N.E. 127th St., on the former site of Fire Station 39, the property is approximately 10 miles from downtown Seattle, with easy access to Interstate 5. According to Yardi Matrix data, Tony Lee Apartments includes studios and one- to three-bedroom apartments, with rents ranging from $526 to $1,353. The property will be affordable to individuals earning between $21,050 and $42,150 as well as to families of four with incomes between $30,100 and $60,200.
“We’ve all noticed an increase in people who are living in vehicles and doorways all over the city. Nowhere is the need for affordable housing options for children and their families more apparent than in north Seattle,” said Seattle’s District 5 Council Member Debora Juarez, in a prepared statement.
Part of the necessary funds for the construction of Tony Lee Apartments was granted through the Seattle Housing Levy. In 2017, Mayor Jenny Durkan announced $100 million in affordable housing investments. Adaptive reuse is a growing trend in Seattle, with several other types of properties—such as hotels—being transformed into affordable multifamily communities.
Image via Google Street View