(WSB photo of 16th/Holden site, April)
Three weeks have passed since the deadline for proposals to develop the 9,425-square-foot ex-substation site on the southwest corner of 16th and Holden into a mixed-use building with “affordable homeownership” units. The city Office of Housing was seeking proposals for building ~16 for-sale residential units over commercial space at the site, and tells WSB that it received two proposals. They’re not commenting on who the proposals are from, but plan to choose a winner “in August.” This was one of half a dozen area ex-substation sites declared “surplus” by Seattle City Light more than a decade ago; after years of discussion and community advocacy, SCL transferred it to the Office of Housing to get this project off the ground Housing paid the site’s current valuation, $424,000, to SCL, using funding from Mandatory Housing Affordability fees paid by developers in lieu of including affordable housing in their own projects. The units in the eventual project, according to the city, “must be affordable to households with incomes at or below 80% of Area Median Income (AMI) for the Seattle area,” taking into account “a 5% down payment, a monthly payment for housing costs (mortgage principal, interest, taxes, insurance, and other dues) of not more than 35% of income, a household size of one more person than number of bedrooms, and a realistic mortgage interest rate.” Assuming this plan proceeds to fruition, this will be only the second of those six surplus ex-substations to be developed into housing, after these “tiny townhomes” on Pigeon Point.
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