Mar 01Sound Transit Board approves transaction terms for two transit-oriented developments in SeaTac
For Immediate Release: February 24, 2022
The Sound Transit Board of Directors today approved key transaction terms with developers to build two transit-oriented development (TOD) sites adjacent to Angle Lake Station and garage in SeaTac. Mercy Housing Northwest (MHNW) was selected last year to develop the three-quarter-acre site known as Angle Lake TOD North. South 200th Street Station, LLC was selected to develop two-thirds of an acre property known as Angle Lake TOD South.
MHNW will build a minimum of 85 affordable housing units and ground-floor commercial or office space. The units will be a mix of studios and one-, two- and three-bedroom apartments. More than half of the units will be family-sized housing with two or three bedrooms. MNHW would also set aside approximately 20 housing units for residents living with developmental or intellectual disabilities. MHNW is partnering with The Arc of King County to relocate its headquarters to the ground-floor space. MHNW will pay a discounted land purchase price of $300,000-$400,000.
South 200th Street Station, LLC intends to incorporate the south property into its adjacent master-planned development. As a condition of Sound Transit’s property transfer, a minimum of 230 housing units will be created as part of the master plan development with 20% of the units provided as affordable housing. The developer will pay Sound Transit $1.95 million for the property.
“It is clear we have an affordable housing crisis in the Puget Sound region, and I’m proud that Sound Transit is playing a role in helping to address it,” said Sound Transit Board member and King County Councilmember Dave Upthegrove. “Of the 2,500 housing units in development or already built, 1,600 of those will be affordable housing. These SeaTac projects are a positive step in addressing a critical community need.”
“We are grateful to Sound Transit for their partnership and excited that Angle Lake will be our sixth transit-oriented development on light rail,” said Joe Thompson, MHNW President. “For most families, transportation is second only to housing as the largest household cost. By locating affordable, family-sized housing and life-changing resident services programming next to high-quality transit, Mercy Housing Northwest is creating transformational impacts for families and communities.”
MHNW is targeting late 2022 to start construction on their project. South 200th Street Station, LLC hopes to break ground on its project in 2024.
Information about Sound Transit’s TOD program is at https://www.soundtransit.org/system-expansion/creating-vibrant-stations/transit-oriented-development.
Mercy Housing Northwest – Since 1992, MHNW has provided affordable homes to people with low incomes, including families and seniors. With 47 properties in Washington and Idaho, MHNW serves 5,100 people every day. MHNW supplements much of its housing with Resident Services, programs that help residents build stable lives. MHNW is a regional branch of Mercy Housing, Inc., a leading national affordable housing nonprofit headquartered in Denver, CO. To learn more visits https://www.mercyhousing.org/northwest/
CONTACT: Scott Thompson – (206) 903-7838 or Scott.Thompson@soundtransit.org
— Sound Transit: Connecting more people to more places to make life better and create equitable opportunities for all. Visit www.soundtransit.org —
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