Seattle Social Housing Developer reaches ‘350 homes’ on way to 1,000 milestone with West Seattle acquisition

(Image: Seattle Social Housing Developer)

The Seattle Social Housing Developer is adding another property to its growing roster. The board approved the purchase of Youngstown Flats in West Seattle for approximately $68 million on Tuesday, with closing expected in mid-December.

The six-story, 2013-built property contains nearly 200 units averaging over 800 square feet, including a quarter of the units in two-bedroom layouts plus 10 ADA-compliant homes. The acquisition will extend affordability for about 30 residents following the expiration of the building’s previous Multifamily Tax Exemption status.

The deal will benefit a San Diego-based real estate investment group that acquired the development for $72 million in 2018.

SSHD announced existing tenants will receive two-year rent freezes through December 2028, free one-year ORCA passes, and the elimination of junk fees and utility billing surcharges.

In the announcement, Interim CEO Tiffani McCoy and City Councilmember Rob Saka emphasized the site’s transit access, which connects to two RapidRide bus routes and Sound Transit’s planned 3.9-mile light rail extension.

The deal expands SSHD’s portfolio to nearly 350 homes, advancing toward its target of 1,000 units by late 2027.

Earlier this month, CHS reported on plans for SSHD to launch its first ground-up redevelopment project in the Central District at 24th and Yesler.

SSHD has been making steady progress since its approval by the city’s voters in 2023. CHS reported last winter on stronger than expected funding for the new authority giving the developer a head start in its mission to create and acquire affordable housing. Officials said the voter-approved 5% tax on employers that pay any employee more than $1 million in compensation climbed above $115 million. The city began collecting the first Prop 1A payments from employers for the 2025 tax year in January. The tax had been expected to raise more than $50 million annually. A reported “10,000 applicants” signed up for the lottery for the developer’s first acquired property on Western Ave.

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