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Seattle's Poor Fight For Million-Dollar Views

Posted by: Jeffrey Goodman
Thanks to: Jeffrey Goodman
10 June 2004 - 10:00am

Long-time residents of Yesler Terrace public housing are trying to keep their homes in one of America's most expensive downtowns.

The Seattle Housing Authority is already fighting opposition to a proposed redevelopment of Yesler Terrace, at 65 the city's oldest public housing project. Blessed with views of downtown and Elliott Bay, the site could be worth millions to the cash-strapped Housing Authority if redesigned for more affluent living. Critics argue that Seattle is trying to displace the poor to the fringes of the city.

Full Story: Housing project's fate tests community values
Source: The Seattle Times, June 9, 2004
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The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"
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