There are still single family-style homes across from Capitol Hill Station

Great Expectations is advancing its plans for an eight-story apartment building on 10th Ave E in Capitol Hill, Seattle, which will include 221 affordable residential units above a 30-stall parking garage. The project requires a contract rezone for the building to reach 85 feet, reflecting the city’s efforts to reform zoning laws to distribute growth more equitably. This initiative comes as the city finalizes its 20-year plan, aiming to address housing shortages. The Alnus project follows a successful rezone for the Acer House project at 23rd and Cherry, which includes 114 apartments with 30% reserved for low-income residents. Economic pressures have impacted development across Capitol Hill, with a significant drop in permit applications.

A local developer noted that rising interest rates have diminished project viability, leading to a slowdown in construction activity. The $970 million housing levy approved by voters in 2023 is expected to support this new development. Demolition paperwork for existing homes on the site has also been filed, marking a significant step toward the project’s realization.