650 apartments planned at Seattle housing project

Published 12:54 pm Tuesday, October 14, 2014

SEATTLE — Vulcan Real Estate has agreed to buy three blocks of the Yesler Terrace development from the Seattle Housing Authority for $22 million.

The Seattle Daily Journal of Commerce reported thta Vulcan wants to build 650 apartments, with some reserved for people making 80 percent of the median income.

The housing authority is selling about 14 of the 30 acres at Yesler Terrace for private housing, retail and office space. The proceeds will pay for new and upgraded low-income housing in the community near downtown Seattle.