Seattle officials announced $50 million in new local and state investments on Monday to “rapidly create new income- and rent-restricted housing” for those experiencing homelessness in the city.
Using $25 million in city investments matched with funding from the state Department of Commerce’s Rapid Capital Housing Acquisition program, the city said that it will acquire 165 units of affordable housing across three newly constructed buildings, all located in the Capitol Hill neighborhood.
Two of the buildings will serve adults, while the third will serve young adults between the ages of 18 and 24. By rapidly acquiring and converting the market-rate apartment buildings into affordable, permanent housing, all three properties are
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