Washington (WA)

Seattle

Elara at the Market Apartment Acquisition / Seattle - 6160002

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Published May 25, 2026 at 8:00 PM

Updated May 26, 2026

Description

Renovation of a multi-residential development in Seattle, Washington. Conceptual plans call for the renovation of a multi-residential development.

The Seattle Social Housing Developer has acquired the 150-unit Elara at the Market apartment building near Pike Place Market for $60 million. The publicly owned developer plans to convert the existing Class A residential building into permanently affordable social housing, leveraging voter-approved funding measures passed in 2025. The strategy prioritises rapid delivery of affordable units through acquisition rather than new construction, with tenant protections including rent freezes and benefit programmes already announced.

Details

Stage

Conceptual

Building Use

Multi-Residential

Value

$60,000,000.00

Sector

Public - City

Project Type

Renovation

Bonds

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Plans and Specifications are not available for this project. If that changes, they will be made available here.

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United States of America

Elara at the Market Apartment Acquisition / Seattle - 6160002

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