SRM Georgetown Affordable Housing
Summary
SRM Development’s mission is to create safe, quality affordable housing options for individuals and families. In partnership with the nonprofit, Georgetown Community Development Authority (GCDA), we are developing the “Georgetown Mixed-Use Affordable” projects. Located at 5300 & 5312 4th Avenue South, 404 S. Brandon Street, and 411 S. Bennett Street, the one-block site currently has four one-story commercial buildings, including a motel, auto care center, and truck rental agency.
This future multifamily residential project will include two 7-story buildings with 52 studios, 120 1-bedroom units, and 46 3-bedroom units serving households who ear up to 60% of the Area Median Income, which equates to roughly $77,640 for a family of four in Seattle.
There will be community amenities, commercial space, workshops, common laundry facilities, and tuck under parking for 32 vehicles included in the buildings. Further, the development promises to connect and strengthen the district by incorporating improved sidewalks, pedestrian-scaled storefronts, and landscaping aimed to improve walkability and alternative modes of transportation.
We are in the planning phases of this transformative project and look forward to hearing from community members. Please contact Conor Hansen (email or phone) for more information — conor@srmdevelopment or 509.530.9212
SRM Development is committed to providing affordable housing and healthy living spaces. We are grateful for the opportunity to work with the community to create more affordable housing for those in the Georgetown Neighborhood.
FAQs
How long will the rents be affordable?
The rents will be restricted for 99 years
What requirements do I need to meet to be eligible to live here?
We encourage you to reach out to the property manager for specific eligibility requirements as we have a mix of eligible income ranges depending on household.
Will my rent increase after I move in?
Rent increases will not exceed 3% per year for income qualified residents.
Where can I find additional project information?
Additional project information may be found online via Seattle Services portal under record number 3039252-LU.
How are rents determined?
Every year, the HUD publishes suggested rents for most metropolitan areas determined by the area median income. This project serves tenants who earn up to 60% of the Area Median Income.
See chart below.