Sound Transit sells land for affordable housing adjacent to Capitol Hill Station
Board approves sale of land to be managed by Capitol Hill Housing
The Sound Transit Board today approved the sale of land adjacent to the Capitol Hill light rail station for affordable housing.
The Board approved the sale of a parcel just east of the station to Gerding Edlen Development Company, who also won the right to develop three other sites adjacent to the station as part of a competitive process that ended last year. Under an agreement with Gerding Edlen, Capitol Hill Housing will own and operate the affordable housing portion of the development.
“This is an important step in ensuring that affordable housing is part of the vibrant neighborhood that surrounds the Capitol Hill light rail station,” said Sound Transit Board Chair and King County Executive Dow Constantine.
The purchase price is $2.6 million.
The project will deliver between 82-86 apartments that will permanently be available for people or families making at or below 60 percent of the area median income (AMI).
“Including affordable housing near the light rail station in the heart of Capitol Hill ensures that the neighborhood remains economically diverse and inclusive for all,” said Sound Transit Board member and Seattle Mayor Ed Murray. “More people will now have the opportunity to live and enjoy a vibrant community with access to jobs, transit options, and education opportunities.”
Approximately one quarter of the units will be two and three bedrooms, intended to serve low-income families. Construction could begin in the spring of 2018 and ready to occupy in late 2019. The overall development surrounding the station will also include space for a community center and a daycare center.
Sound Transit and Gerding Edlen are finalizing the long-term lease details for the other sites adjacent to the station to be developed as a mix of retail and housing including:
- More than 400 apartments on four sites adjacent to the station, including the affordable housing site approved for sale today
- All buildings built to a minimum of Leadership in Energy and Environmental Design (LEED) Platinum standards
- Provision of a space and a long-term lease agreement with the Broadway Farmers Market
For more information on Capitol Hill Station and the development sites see: www.soundtransit.org/capitolhillTOD