Low-income residents of Squire Park Plaza, an affordable housing project up for sale, got a reprieve, of sorts. The nonprofit Capitol Hill Housing (CHH) will buy the building, located at 17th Avenue South and South Jackson Street, for $11.3 million.
But there’s a catch: Capitol Hill Housing will be the local face of a joint venture, funded mostly by Jonathan Rose Companies, a New York-based for-profit developer that specializes in affordable apartment buildings around the country. ...