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Vulcan is Underway on Wayfarer, its Third Community at Yesler
Vulcan Real Estate recently broke ground on Wayfarer, its third residential community at Yesler. The project will contain 261 rental apartment homes in the growing neighborhood east of Interstate 5 and the Seattle Central Business District.
In accordance with an agreement between Vulcan Real Estate and the Seattle Housing Authority (SHA), 20 percent of the units will be affordable workforce housing for households earning 80 percent of Area Median Income (AMI). Vulcan intends to participate in Seattle’s Multifamily Tax Exemption program which will extend affordability to households earning 65 percent of AMI.
“SHA’s Development Plan for Yesler has really come to fruition in recent years,” said Ada M. Healey, chief real estate officer for Vulcan. “We value our partnership with SHA and are honored to play a role in advancing their vision for a diverse and exciting mixed-income, mixed-use neighborhood.”
- ◦Development
