Seattle unveils 4 projects as part of Rainier Valley housing initiative
The Seattle Office of Housing is investing in an affordable housing ownership initiative that will bring 72 new units to the Rainier Valley neighborhood in an effort to prevent displacement.
The city last week said it is investing $7.5 million in four projects for multifamily-style housing that will be built on land given to the city by Sound Transit in 2021. The units will be available to purchase.
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The investment is part of the Rainier Valley Affordable Homeownership Initiative, which aims to develop 100 homeownership units on 10 sites gifted to the city by Sound Transit. The goal of the initiative is to create homeownership opportunities for current and displaced Rainier Valley residents.
"The Rainier Valley Affordable Homeownership Initiative is a significant step towards addressing the affordable housing challenges in our community," Maiko Winkler-Chin, director of Seattle’s Office of Housing, said in a news release. "We are excited with the outcome of this year's selection process, and we commend the efforts of all the organizations involved in submitting thoughtful and innovative proposals."
https://www.bizjournals.com/seattle/news/2023/08/15/affordable-homeownership-units-rainier-valley.html