Thursday, Sound Transit approved the $2.6 million sale of the “B-North” site with hopes that this will begin a transformation of the area surrounding Capitol Hill light rail station.
The site, located on the northeast corner of East John Street and 10th Avenue East, is the first of four parcels to be sold to developer Gerding Edlen, though this one will specifically be developed by Capitol Hill Housing as an 86-unit affordable housing project that CHH will own. Schemata Workshop will design the building.
Gerding Edlen will oversee the other three sites, which will contain retail space, parking, and over 400 apartments. Among those apartments, more than 150 units will be designated below market rate for 12 years while 86 units will be designated a permanent affordable housing.
All-told, it will bring 100,000 new square feet of development to Capitol Hill, which includes housing for 800-900 people of all financial means.
The hope is begin development for all four sites in 2018 with a completion in 2019. The budget for the entire project is expected to be in the $160 million range.