Seattle Social Housing Developer Buys First Building

The Seattle Social Housing Developer (SSHD) has announced its first acquisition, a 150-unit apartment building in the heart of downtown. It plans to turn half of these units into affordable housing.The building, called the Elara at the Market, is a few blocks north of Pike Place Market. SSHD expects to close the sale in mid-June for $60.9 million, or about $400,000 a unit.At the board of directors meeting on Thursday night, SSHD director of acquisitions James Mayton said he expects the Elara to