Generous Seattle easily passes affordable- homes levy

Seattle voters approved Proposition 1, continuing a pattern of generosity toward affordable-housing measures despite an ongoing economic crunch.

The seven-year, $145 million levy was passing with about 63 percent of the vote in early returns Tuesday night. It will cost homeowners about $17 per $100,000 of assessed property value annually.

That amounts to about $79 a year for an average Seattle home with an assessed value of $460,000.

Most of the levy — about $104 million — will help build or save 1,670 apartment units, with more than half of those funds aimed at housing for renters earning less than 30 percent of the city's median annual income.

The measure also would provide assistance to 550 renters annually, help fund 180 first-time home purchases and allow the city's Office of Housing to buy land or buildings for future development.

The Yes for Homes campaign, with $333,000 from a variety of low-income advocacy groups and financial institutions, faced no real opposition.