The Seattle Social Housing Developer (SSHD) announced its second acquisition on Tuesday, a six-story building with nearly 200 homes in the heart of West Seattle.
The Developer’s Board approved the acquisition on Tuesday night.
SSHD is planning to buy Youngstown Flats for about $68 million and expects to close on the property in mid-December. One of the central attractions of the complex were its large unit sizes. On average, each apartment is more than 800 square feet, and Youngstown Flats offers nearly 50 two-bedroom apartments.
In addition, the current owner of Youngstown Flats recently allowed an affordability program to lapse at the property – MFTE, or Multifamily Tax Exemption. SSHD’s new ownership will potentially protect about 30 residents from economic displacement by offering them a permanent affordability program under the social housing model.
“This is a tremendous opportunity for SSHD,” said the public agency’s interim CEO Tiffani McCoy. “Providing permanently affordable, family-sized housing in different parts of Seattle is what we’re all about.”
Seattle Councilmember Rob Saka, who represents District 1, which includes West Seattle, added: “I am so happy to see social housing being built in my district. Mixed-income communities, where those at lower incomes pay less in rent than those who make more, is an effective way of addressing Seattle’s housing and affordability crisis. And with transit-oriented development, residents can more easily reach work, school, and essential services.”
There are two convenient bus lines near Youngstown Flats — RapidRide H and RapidRide C. In the neighborhood, Sound Transit plans to open the West Seattle Link Extension, which will add 3.9 miles of service from SODO to Alaska Junction in 2035.
The building, which was constructed in 2023, is also close to the DragonFly Garden and Pavilion, a recreational space featuring walking trails and Longfellow creek, which is suitable for children.
There are 10 ADA compliant units at Youngstown Flats along with five accessible parking stalls.
SSHD also plans to offer current residents of Youngstown Flats many of the same benefits offered to residents at its first social housing apartment complex, Elara at the Market, near Pike Place Market.
SSHD plans, for example, to offer free, one-year ORCA passes to all residents. We also plan to get rid of junk fees and freeze rents for existing leases for two years, through December 2028. Though not immediate, over the course of the first year of our ownership, SSHD will end Ratio Utility Billing System (RUBS) charges at the property, saving residents on utility costs as well.
With the addition of Youngstown Flats, SSHD will own a total of almost 350 units, exceeding its housing pipeline goal for 2026 — spread throughout Districts 1 and 7. Earlier this month, SSHD announced its first construction project in the Central District, or District 3.
SSHD expects to announce additional acquisitions next year, which will bring permanently affordable, forever publicly owned housing to even more Seattleites. By the end of 2027, SSHD expects to own more than 1,000 units of housing.
