Although this year’s biggest election will be the City Council primary in August, that won’t be the first election of the year. You’ll get a ballot in less than three weeks for the February 14th special election, with just one measure on your ballot: Seattle Initiative 135. Not familiar with it? Here’s the text that you’ll see:

City of Seattle Initiative Measure 135 concerns developing and maintaining affordable social housing in Seattle.

This measure would create a public development authority (PDA) to develop, own, and maintain publicly financed mixed-income social housing developments. The City would provide start-up support for the PDA. The City Council would determine the amount of ongoing City support. Before it transfers any public lands for nonpublic use, the City would be required to consider a transfer to the PDA. The PDA’s Charter would govern the election, composition, and duties of the PDA’s Board of Directors.

So what’s “social housing”? Here’s how the organization behind the initiative explains it:

Housing created outside of the private market, publicly financed and publicly controlled. Unlike public housing models in the United States, social housing does not rely on profit motives, the private market or private partnerships, which creates permanent affordability and housing free from market speculation. Residents and their homes are shielded from the free market, with specific measures prohibiting the sale and marketization of social housing to ensure it remains in the public’s hands, for public use.

Also from their FAQ page, the explanation of “who will pay for it?”, since the city “start-up support” does NOT include funding:

Our initiative follows the path of the Pike Place Market and the monorail. This is a multi-step process. We are setting up the structure and the vision to get this public developer started, then we will begin raising money. We are pursuing several options, but money that is available today will not necessarily be the extent of what’s available tomorrow.

Once the public developer is established, they can receive and request funds from city, state, federal governments, as well as private donations if those donors feel so inclined.

You can read the full text of I-135 here. For a slightly shorter overview, see this page on supporters’ site (which also includes the full text). The House Our Neighbors political committee of Real Change gathered signatures to get it on the ballot. No opposition campaign is registered, so far. Ballots are scheduled to be mailed January 25th. Not registered to vote? Here’s how to do it.

(WSB photo)

By Tracy Record
West Seattle Blog editor

On Tuesday, we reported on a microapartment project in The Junction. Across 44th SW from that site is a relatively new all-studio building that is in the process of being sold. That alone is not unusual – a check of commercial real-estate listings will show that apartment buildings are often on the market (and some sell without ever being publicly listed). However, this deal is unique: Post-sale, the Vega Apartments (4528 44th SW) are to be managed as “affordable housing,” according to a letter sent recently to nearby residents. A WSB reader forwarded it to us. The letter reads:

SRM Development is in contract to purchase the Vega Apartments located at 4528 44th Ave SW.

SRM is partnering with the Urban League of Seattle to preserve rents at affordable levels for 99 years and offer resident services. Our goal is to create and maintain safe, quality affordable housing options for individuals and couples in urban Seattle neighborhoods.

The Vega is an existing 5-story apartment building in West Seattle, built in 2017, which includes 58 studio units. It will serve tenants ranging from 50% or below of the Area Median Income (AMI) up to 80% of AMI, which ranges from $45,300 to $66,750 for an individual or $51,800 to $76,250 for a couple living in Seattle.

The acquisition offers a unique opportunity for low to moderate income residents to afford to live where they work and with close access to public transport line, which meets to goals and objectives of the City of Seattle’s Consolidated Plan for Housing and Community Development. We are seeking financing for the acquisition and management of the Vega Apartments in part from the City of Seattle Office of Housing.

SRM and Urban League are grateful for the opportunity to provide and maintain more affordable housing in the West Seattle neighborhood and look forward to being long-term community partners.

The letter also points to a page on SRM’s website which says this is one of six apartment buildings around the city that would be involved in the deal; the others are all outside West Seattle. The information on the page otherwise largely replicates what was in the letter sent to neighbors. It also links to a current page for Vega, showing vacancies for ~240-square-foot studios at rents ranging from $1,325 to $1,425.

So what would change for current and future tenants if this partly publicly funded deal goes through? And will the deal proceed if public funding is not obtained? We have been trying to get answers to those and other questions, but both SRM Development and the Urban League have not responded to our inquiries. The city Office of Housing would only say, through spokesperson Nathan Haugen, “We can confirm that SRM and Urban League have applied for funding … We unfortunately cannot comment any further as we are currently in process of closing out any awards.” According to the Office of Housing’s website, the department was accepting applications through mid-September for shares of $44 million in its Rental Housing Program. The notice says in part:

Seattle OH seeks to fund projects that:

• Combat residential displacement in communities that have experienced and continue to be at greatest risk of displacement.

• Address essential preservation and rehabilitation needs in existing OH-funded properties.

• Deliver new housing in geographic locations that offer access to transit, job centers, and services

According to this industry-publication report, the SRM Development executive who signed the letter about the West Seattle plan was hired by the company last year to head a new “affordable housing” division. One more note: Five of the six buildings involved in the pending deal are owned by West Seattle-headquartered Blueprint. We’ll continue following up.

The first major mixed-use project to be built in The Admiral District in several years is now open. A grand-opening celebration is happening through 4 pm today at Admiral Station Apartments (2715 California SW) – all are welcome to drop by for food (catered by Husky Deli and Puerto Vallarta), a raffle, swag, and tours through 4 pm.

We visited Admiral Station, which has 49 apartments – 12 already leased – earlier this week for an advance tour. Here’s what we saw:

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The King County Assessor’s Office has announced that “the annual process of mailing property valuation notices to taxpayers” has begun, and West Seattle property owners will get theirs soon. According to the announcement: “Median residential property values rose by 18.3% in West Seattle, and by 11.4% in North Central West Seattle.” (The median is “half more, half less,” NOT the average.) For the latter, that’s a higher increase than the 8% a year earlier. As decreed by state law, these valuations were set at the start of this year for taxes that will be due next year – these notices are not a bill. The KCAO says a major factor in the rising property values was the continued low inventory of housing for sale, coupled with high demand.

P.S. You don’t have to wait for the postcard to arrive by mail – if your new valuation has been finalized, it’ll show up online; one way to look it up is to use the King County Parcel Viewer to check – once you’ve gotten to the page for your address, click through to the “property detail” page. One more note: If you disagree with your valuation, you can appeal it – here’s how.

Introducing West Seattle’s newest luxury waterfront development, Infinity Shore Club Residences (1250 Alki Avenue SW), one of WSB’s newest sponsors, which means they get the opportunity to tell their story:

Set in what is arguably Seattle’s most desirable waterfront location, there is no other new condominium project quite like Infinity Shore Club in Seattle right now. Infinity rests on a stunning stretch of Alki Beach that looks out over Puget Sound to the Olympic Mountains and offers a vista of Seattle’s one-of-a-kind skyline. The building, currently under construction, will house a boutique collection of just 37 condominium estates with more amenity space than other buildings of its size — promising residents the privacy and elevated feel of a luxury resort experience every day.

Residences include one-bedroom-plus-den, two-bedroom, and three-bedroom options, which range in size from 1,108 to 2,382 square feet. In addition to several spacious layouts, Infinity offers a lot of the things home buyers will expect to find in new construction homes: a modern design and large window walls to let the outdoors (and large amounts of natural light) in, brand-new appliances, and high-quality finishes inspired by the project’s natural surroundings. But this community offers so much more!

With multiple shared amenity spaces and unique perks, Infinity ia designed to allow homeowners to live life on the water to its fullest. Residents will enjoy private outdoor terraces that maximize their living space plus access to a shared rooftop terrace with panoramic views, several distinct areas for relaxing or socializing, and firepits around which to cozy up on chilly evenings. They will also enjoy the back deck oasis, with spaces for lounging and entertaining in a peaceful garden environment, and the fully equipped fitness center, pet spa, and storage for bikes, kayaks, and other recreational equipment. But perhaps the most luxurious amenity of all is the infinity pool which, along with a heated spa, sits in a central location between the building’s two residential arms, and allows patrons to swim and relax while taking in the incredible views that only this West Seattle location can provide.

Currently entering its final phase of construction, Infinity Shore Club will be ready for occupancy in early 2022. For those searching for their perfect home at the edge of the shore, this is the ideal time to learn more about Infinity’s floor plan options and availability—take the opportunity to tour and choose the ultimate beachfront home now, while there are still many options available, and be move-in ready by early next year! Pricing starts at $1,149,950.

We thank Infinity Shore Club Residences for sponsoring independent, community-collaborative neighborhood news via WSB; find our current sponsor team listed in directory format here, and find info on joining the team by going here.