Lawsuit blames Seattle for lack of affordable housing

SEATTLE — The owner of an International District apartment building is blaming the City of Seattle for a loss of affordable housing.

A lawsuit filed on behalf of GRE Downtowner, LLC, owner of the Addison on Fourth apartment building, says a series of ordinances passed by the Seattle City Council between 2018 and 2022 have destroyed affordable housing options in the city.

In 1911, the building originally opened as the New Richmond Hotel. In 2012, the building that is now the Addison on Fourth was purchased by GRE Downtowner.

With the help of the Low-Income Housing Tax Credit and the Historic Tax Credit, the company began a major renovation project to create 254 affordable housing units, according to a news release from the Rental Housing Association of Washington.

“When we began this renovation project in 2013, it was a great public-private partnership providing much-needed low-income housing units,” said George Petrie, CEO of GRE. “But then the city started to change all the rules, and now the Addison, our residents, and the city are the ones who suffer. It’s heartbreaking and devastating for all stakeholders.”

The lawsuit claims six ordinances passed by the City Council include regulations that have caused “significant financial and operational challenges,” for affordable housing projects.

“Our goal is to create the highest level of quality affordable and sustainable housing in downtown Seattle for our residents, but the city has placed so many restrictions on our ability to do that it is placing our residents at risk”, said Petrie. “We have no choice but to call attention to this matter in defense of our community members, hold the city accountable, and provide relief for our residents.”

©2024 Cox Media Group