The new Yesler Terrace will house more people than today’s community, with residential units, commercial, retail and open public spaces. This dynamic mix will allow Seattle Housing to minimize external funding for the project and to use proceeds from the sale of market-rate housing and commercial properties to fund additional low-income, workforce and affordable housing. The mix of housing in the new Yesler Terrace is envisioned as follows:
- 561 replacement homes serving people with incomes below 30 percent Average Median Income, consisting of 561 units to replace those currently there and 100 additional units developed with partners
- 290 additional low-income homes serving people with incomes from 30-60 percent AMI
- Up to 850 workforce housing serving people with incomes below 80 percent AMI
- 1,200-3,200 market-rate homes
The first phase of redevelopment is complete, adding a total of 238 apartments to the area east of Boren. Seattle Housing completed 118 of these apartments at a new development called Kebero Court and the renovation of the Baldwin Apartments. Of these housing authority units, 98 are replacements for the low-income housing units that existed at Yesler Terrace prior to redevelopment. Twenty apartments will serve people with incomes under 60% AMI. Spectrum Development Solutions, a private housing developer, built Anthem on 12th, a 120-unit building that will also include 4,000 square feet of retail space. Anthem will include 30 apartments for people with incomes under 80 percent AMI.
The next phase of redevelopment includes construction of 194 apartments at Raven Terrace and Hoa Mai Gardens, which includes 118 replacement units. Within this next phase, a total of 76 apartments will serve households with incomes under 60% AMI.