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Seattle-based developer Vulcan will pay Seattle Housing Authority just over $22 million for three blocks in Yesler Terrace, officials said.

Vulcan said it plans to invest $200 million in three residential projects that will add about 650 units of housing, most of it market-rate and 20 percent targeted to people earning less than 80 percent of the area median income. The land sales for 3.7 acres along East Yesler Way and east of Boren Avenue will be completed on specified dates in 2015, 2016 and 2017, officials said, so Vulcan can build the projects in phases.

Construction on the first building at the corner of Broadway and Yesler Way is expected to begin in early 2016.