The developer’s housing lottery for their first building, Elara at the Market, is underway. Here’s what you should know.
SEATTLE — Fresh off the announcement of its first acquisition, Seattle’s Social Housing Developer has opened its lottery for preapplications.
The social housing developer announced May 22 that it would acquire Elara at the Market, a 150-unit luxury apartment building in Seattle’s Belltown neighborhood. It is the first building acquired since the authority was created in 2023.
Demand vs. availability
With rents ranging from $665 for a studio to $1,482 for a two-bedroom unit, demand to live in the developer’s first building is expected to be high. Seattle’s average rent is 30% higher than the national average at $2,102 per month, according to Apartments.com. With families looking for relief from rising housing costs across the city, the lottery is expected to fill quickly.
Vacancies will be limited once SSHD acquires Elara at the Market, with the developer estimating about 60 “deeply affordable” units will be available this year. While the developer plans to acquire another building in late 2026, space remains limited. Between five and 10 units are expected to be immediately available at Elara at the Market on the target move-in date of July 1.
How does the lottery process work?
The first step of the housing lottery is underway, with the preapplication period ending June 5. Once the preapplication period ends, submissions will be timestamped and placed on a waitlist in the order received.
Lottery drawings will begin June 8, with the housing developer prioritizing applicants making 30% of the area median income, or AMI, and lower. The developer said in its acquisition announcement the first 15 available units will be filled within that income range. Applicants making between 30% and 50% of the AMI 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 position when the lottery begins. Unlike the waitlist process, applying first does not guarantee a higher placement in the lottery.
Following the lottery, SSHD will contact selected applicants and complete income verification between June 8 and July 1, the target move-in date for Elara at the Market. The developer noted applicants will be contacted in the order they are drawn and income verification must be completed within 72 hours of notification.
Where can I get help?
The Seattle Social Housing Developer is hosting pop-up events throughout the city to answer questions and assist with housing lottery applications. Through June 5, the developer will be at the following locations:
- Friday, May 29: Central District Farmers Market from 2:30 p.m. to 5 p.m.
- Saturday, May 30: Friends of Little Saigon Creative from 8 a.m. to 1 p.m.
- Friday, June 5: Central District Farmers Market from 2:30 p.m. to 5 p.m.
Those with questions or needing assistance completing the lottery form can also contact the developer directly at [email protected].
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