
One way Yesler Terrace could look after redevelopment.
The Seattle Housing Authority announced Thursday that it has received a $19.73 million grant from the federal Department of Housing and Urban Development to jump start construction of replacement low-income housing in Yesler Terrace.
The grant comes on the heels of a $10 million HUD grant SHA received in 2011 to start Phase I of the redevelopment, which included 118 replacement homes and improvements to Horiuchi Park. Phase I also aims to connect Little Saigon with Yesler Terrace via a 10th Ave hillclimb path.
Phase II will build “more replacement housing for extremely low-income households, increased services and additional community improvements,” according to the press release from SHA. Phase II will build another 164 replacement homes, bringing low-income housing levels to 38 percent of the total SHA housing replacements (212 of 516) planned in the large-scale redevelopment of the neighborhood into a high-density, mixed-income area.
During deliberations over the plans, many people expressed concerns that the redevelopment plans would not work out, leaving SHA without enough money to replace all the units destroyed to make way for the new market-rate highrise office and housing towers. These grants give the plans a big head start, but replacing many of the remaining units will require proceeds from land sales to big developers. The SHA is narrowing in on choosing a redevelopment partner, with Paul Allen’s Vulcan and a Cleveland firm on the short list of potential firms.
The Phase II money will also help finish the hillclimb and fund some work on the green street loop through the neighborhood. Some money will also assist with health, scholarship and job-finding programs. The grant will also provide financial assistance to Historic Seattle’s renovation of Washington Hall at 14th and Fir.
“In 2013, we will begin to see the actual physical transformation of Yesler Terrace into the neighborhood of the future envisioned by residents and stakeholders as the construction of homes, parks, and the Hillclimb gets underway,” said SHA Executive Director Andrew Lofton in the press release. “We are looking forward to making our first new homes for low-income residents available by the end of 2013.”
From the SHA: Continue reading →