A new affordable housing initiative is set to break ground in Seattle on Tuesday.

The city council sold old Fire Station 39 in Lake City to the Low Income Housing Institute last year.

The station was vacant for years.

Now it'll be turned into 70 units of affordable housing for people making 30 to 60 percent of the median income. The building's plan calls for 15 studios, 25 one-bedrooms, 25 two-bedrooms and 5 three-bedroom units.

A four-classroom preschool will occupy the first floor. It will be run by the Refugee Women's Alliance.

"Given the market rent for a two-bedroom apartment in Seattle has climbed to $2,803 per month, the rent for a comparable unit at Lake City Family Housing will be $700 to $1,296, less than half the cost of market rent," says Sharon Lee, LIHI Executive Director. "We also know that many children will enjoy living next to Fire Station 39, as kids are endlessly fascinated by fire trucks and our fire fighting heroes."

The building should open in fall of 2018.