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steelrat

A downtown Seattle office tower is set for housing conversion (www.seattletimes.com)

submitted 4 months ago* (last edited 4 months ago) by chaospatterns to c/seattle

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Location: 3rd and Union. The Joseph Vance Building

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[–] [email protected] 1 points 4 months ago* (last edited 4 months ago) (2 children)

3rd and Union?

Yeah, just outside of the angle of this shot are more than likely a significant number of homeless people.

And this is not going to be a homeless shelter, its gonna be extremely expensive apartments, with 10% of units aimed at people earning less than $84k, meaning a rent of about $2.3k for a studio.

What a bargain!!!!

[–] SpaceNoodle 19 points 4 months ago (1 children)

More housing is still more housing. Let's not let perfect be the enemy of good.

[–] Scolding7300 2 points 3 months ago

People would move in vacating other apartments, so I agree this should still help

[–] [email protected] 11 points 4 months ago

Prices reflect supply. The more apartments there are available, the less landlords can get away with charging very high rent.