Seattle City Council Advances $970M Property Tax for Affordable Housing
The Seattle City Council is one step closer to sending voters a $970 million property tax levy to build affordable housing, increase pay for human services workers, and fund homeownership programs.
The measure would renew and triple the existing Seattle Housing Levy, set to expire this year. Mayor Bruce Harrell, backed by affordable housing advocates and some city leaders, proposed the increase citing the rising cost of living and the increase in homelessness.
The council is expected to give final approval to the measure next Tuesday. Voters will weigh in during the November election when seven council seats will also be on the ballot.
With the funds, Seattle aims to fund the construction of 2,881 affordable rental apartments and 277 affordable homes for sale, in addition to improvements for 635 existing affordable apartments. The city will also spend up to $30 million on short-term loans for nonprofits to buy existing apartment buildings.
Apartment buildings for sale
Check out the latest properties available on apartmentbuildings.com
Green Seed Apartments
Portland, ORSeattle & Northwest + Low-Rise
Learn MoreListing Status: Available Listing Type: Highest & best offer Price: $7,500,000 No. of Units: 31 Cap Rate: 4.91 Average Occupancy: 100 Year Built: 2020 Building Size: 19551 Sq ft Lot Size: 18200 Acres No. of Stories: 3 Opportunity Zone: No Buy Side Fee: $1 Price per unit: $241,935 
Brim Apartments
Portland, ORSeattle & Northwest + Mid-Rise
Learn MoreListing Status: Available Listing Type: Highest & best offer Price: $5,500,000 No. of Units: 27 Cap Rate: 6.12 Average Occupancy: 99 Year Built: 2017 Building Size: 14683 Sq ft Lot Size: 4831 Acres No. of Stories: 5 Opportunity Zone: No Buy Side Fee: $1 Price per unit: $203,703
