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The Seattle Social Housing Developer (SSHD) will soon be the new owner of the Elara at the Market apartment complex, making social housing a reality in the city.
The purchase of the first building was unanimously approved by the SSHD Board on Thursday.
The Elara apartment complex is next to world-class amenities, across the street from Seattle’s beloved Pike Place Market and the new Waterfront Park.
The building itself has 150 units, all in excellent condition. SSHD paid about $60 million for the apartment complex, well below the recent sales price of quality apartment units in downtown Seattle.