Seattle is facing a major limitation in affordable housing, directly caused by the steady increase of rent prices in several neighborhoods. This issue is resulting the dislocation of former residents of moderate to medium income. The spike in real estate is directly linked to the city's attraction of new residents and general growth.
In order to lessen this burden for Seattle residents searching for a solution, the Bellwether Housing's Seattle Futures Fund invested over $1.8 million into a newly renovated housing project named Parker Apartments. This new project is one step in the right direction for fifty families pushed out of high-cost neighborhoods like Queen Annie, where the new development is located. This intervention also initiated important public attention from the Seattle Foundation that will support additional long-term interventions (e.g. The Seattle Impact Investing Program that focuses on the Puget Sound area).
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“I think, by 2018, there’s an opportunity for New Orleans to be viewed around the country, around the world, as a hub of entrepreneurship for the South,” says Tim Williamson, the CEO and cofounder of incubator The Idea Village, referring to the year the city will celebrate its 300th anniversary.