SHA-Cover

Seattle Housing Authority

Fiscal and Policy Analysis of Proposed Yesler Terrace Redevelopment

The Seattle Housing Authority plans to redevelop Yesler Terrace into an economically and socially sustainable mixed-income neighborhood. Built in 1939, Yesler Terrace is SHA’s oldest community with 561 low-income housing units, many of which have significant deferred maintenance and other health and safety issues. Partnered with Heartland, BERK assisted SHA in preparing a real estate development strategy for the site that takes into account the fiscal impacts of redevelopment from the revenues and costs associated with additional residents and businesses. BERK also assessed the ways in which redevelopment of the site complements the broader policy and economic development goals of the immediate neighborhood and the City of Seattle. Together with SHA, BERK explored and analyzed approaches to infrastructure funding in order to catalyze development in the area to build momentum.