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- calendar_today October 30, 2026
Youngstown Flats Acquisition Expands SSHD’s Reach
The Seattle Social Housing Developer (SSHD) has made a significant step in its mission to provide affordable housing by approving the purchase of Youngstown Flats in West Seattle. Valued at roughly $68 million, the acquisition was greenlit by the board on Tuesday, with the transaction expected to close in mid-December.
Details of the West Seattle Property
Youngstown Flats, a six-story building constructed in 2013, features nearly 200 units averaging over 800 square feet each. The property offers a variety of accommodations, including a quarter of the apartments in two-bedroom layouts, as well as 10 homes compliant with ADA standards. This move will also help continue affordability for about 30 residents as the property’s previous Multifamily Tax Exemption status expires.
Advancing the SSHD Portfolio and Milestones
The inclusion of Youngstown Flats brings SSHD’s portfolio to nearly 350 homes, as the organization works toward its goal of 1,000 units by late 2027. The purchase also marks a continued expansion for SSHD, which has steadily increased its holdings since city voters approved the authority in 2023. Officials have highlighted the impact of the city’s 5% employer tax—levied on compensation above $1 million—which generated over $115 million for SSHD, surpassing initial expectations.
Tenant Benefits and Transit Connections
SSHD announced a suite of benefits for current Youngstown Flats tenants, including a two-year rent freeze lasting through December 2028, complimentary one-year ORCA transit passes, and the elimination of junk fees and extra utility billing surcharges. Interim CEO Tiffani McCoy and City Councilmember Rob Saka emphasized the property’s strong public transit connections, which include two RapidRide bus lines and nearby plans for a Sound Transit light rail extension spanning 3.9 miles.
Looking Ahead: Redevelopment and Demand
Earlier this month, plans surfaced for SSHD’s first ground-up redevelopment project near 24th and Yesler in the Central District. This follows strong demand for affordable housing solutions; a reported 10,000 applicants signed up for the lottery tied to SSHD’s first acquired property on Western Ave, underscoring the regional need for more affordable housing.
Background: Funding and Mission
Since its voter approval in 2023, SSHD has benefitted from stronger-than-expected funding, largely driven by the city's new tax structure, which began collecting employer payments in January for the 2025 tax year. This robust funding has enabled SSHD to accelerate its acquisition of properties and progress toward its mission of expanding access to affordable housing in the Seattle region.
Related coverage
Source: capitolhillseattle.com.
