Renter protections blamed for crippling $39M affordable housing investment

Renter protections blamed for crippling $39M affordable housing investment

STL.News Press Release Distribution Services NEWYou can now listen to Fox News articles! Seattle's effort to protect renters allegedly helped destroy a $39 million investment meant to provide affordable housing, sending a 254-unit apartment complex that served lower-income residents into receivership. Now, its owners have scored a court victory in a battle that could influence similar fights in Philadelphia and other Democrat-led cities.The Washington Court of Appeals ruled Monday that GRE Downtowner LLC, the company behind Seattle's 254-unit Addison on Fourth affordable housing development, can proceed with claims that the city's sweeping rental regulations amounted to an unconstitutional taking of private property. GRE alleges

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