Income-Restricted MFte Apartmtents
Lake City Lofts is proud to offer 25% of its homes as affordable housing units through Seattle’s Multifamily Tax Exemption (MFTE) program to make high-quality housing more attainable in our community.
The Multifamily Property Tax Exemption (MFTE) Program provides a tax exemption on eligible multifamily housing in exchange for income- and rent-restricted units. By supporting mixed-income development in the urban centers, the MFTE program ensures affordability as communities grows.
For additional details about the MFTE program, we encourage you to visit the Seattle Office of Housing website or view the MFTE income and rent limits. Please note that Lake City Lofts participates in Program 6.
what is the MFTE program?
How do I Qualify?
To qualify for the MFTE program, your household’s income must fall within certain limits, which vary based on the size of your household and the size of the apartment. After completing Guide's standard application and screening process, our leasing team will need to certify that your household income is eligible for the program associated with the home you've selected.
2024 Income limits - 50% AMI
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Minimum Income: $32,910
Maximum Income: $46,210
Max MFTE Studio Rent: $1,155
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Minimum Income: $32,910
Maximum Income: $52,814
Max MFTE Studio Rent: $1,155
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Minimum Income: $32,910
Maximum Income: $59,419
Max MFTE Studio Rent: $1,155
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Minimum Income: $32,910
Maximum Income: $66,013
Max MFTE Studio Rent: $1,155
What do MFTE units at Lake City lofts Look Like?
The MFTE program has high standards for comparability between MFTE and market-rate units which means that the MFTE units at Lake City Lofts look just like any other unit.
These are the floor plans for our MFTE-designated units.
How do I Learn More about MFTE Apartments at Lake City LOfts?
The MFTE process may seem a bit confusing at first, but our leasing team is here to help! If you think you may qualify for the program and want to learn more about MFTE apartments at Lake City Lofts, please reach out today, we’d love to hear from you!