The Dec. 16 groundbreaking for Denny Park, a 50-unit affordable housing project in Seattle, will break new financing ground too. The project is the first in a nationwide program to combine special “green” building funding with federal low-income housing tax credits. To qualify as environmentally correct, the apartments take advantage of east-west exposures, are near amenities and public transportation and were built with durable 50-year exterior materials and low-maintenance landscaping.
More than 100,000 affordable housing units are built every year using the federal credit. Traditionally, “affordable” has meant low-cost and uninventive. But developers such as the not-for-profit Low Income Housing Institute, the Denny Park developer, have been doing small, one-off projects seeking a higher ground.
For this complete story, please visit Low-Income-Housing Builders See Green.
