The developer’s housing lottery for its first building, Elara at the Market, is underway. Here’s what you should know.
Seattle — Just announced first acquisitionSeattle’s social housing developer has opened its pre-application lottery.
The social housing developer announced on May 22 that it would acquire Elara at the Market, a 150-unit luxury apartment building in Seattle’s Belltown neighborhood. This is the first building acquired by the authority since its establishment in 2023.
Requirements and Availability
With rents starting at $665 for studios and $1,482 for two-bedroom units, demand for living in the developer’s first building is expected to be high. According to statistics, the average rent in Seattle is $2,102 per month, which is 30% higher than the national average. Apartment Network. Lottery tickets are expected to fill up quickly as families across the city seek relief from rising housing costs.
Once SSHD acquires Elara in the market, vacancy rates will be limited and the developer expects to launch about 60 “very affordable” units this year. Although the developer plans to acquire another building in late 2026, space is still limited. With an estimated target occupancy date of July 1, Elara at the Market will have 5 to 10 units available immediately.
How does the lottery process work?
The first steps of the housing lottery are underway, with the pre-application period ending June 5. After the pre-application period ends, submitted applications will be time-stamped and placed on a waitlist in the order in which they are received.
The lottery will begin on June 8, with housing developers giving priority to applicants earning 30 percent of the area median income (AMI) and below. The first 15 available units will be occupied in that income range, the developer said in its acquisition announcement. Applicants with AMI scores between 30% and 50% will fill the next 45 units.
According to SSHD, all submissions in the 30%, 50%, 65% and 80% AMI categories will be assigned a random spot when the draw begins. Unlike the waitlist process, applying first does not guarantee a higher spot in the lottery.
Once the lottery closes, SSHD will contact selected applicants and complete income verification between June 8 and July 1, the target date for Elara to enter the market. The developer noted that applicants will be contacted in order of draw and income verification must be completed within 72 hours of notification.
Where can I get help?
Seattle social housing developers are hosting pop-up events across the city to answer questions and assist with housing lottery applications. As of June 5, developers will be located in the following locations:
- Friday, May 29: Central District Farmers Market 2:30pm to 5pm
- Saturday, May 30: Creative Friends of Little Saigon, 8 a.m. to 1 p.m.
- Friday, June 5: Central District Farmers Market 2:30pm to 5pm
Those who have questions or need help filling out the lottery form can also contact the developer directly: info@seattlesocialhousing.org.
