Entering the Affordable Housing Market

We have recently partnered with the King County-based nonprofit housing developer, DASH (Downtown Action to Save Housing), and Microsoft Corp., to build 235 affordable apartment units south of downtown Bellevue.

The 4.5 acre site which is along Interstate 405 and near a future light rail stop, includes a partially completed 150-unit hotel that will be converted to 100 housing units, and another building will be constructed that includes an additional 135 units. The housing in the existing structure will be reserved for households who earn 60% or less of area median income (AMI), or $62,250 for a three-person household. The new building will be for those households that make between 80% and 100% of the AMI.

In addition to this project, our new affordable housing division has more than 800 homes in the pipeline over the next two to three years.

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