When SRM Development acquired the Nuovo site in late 2021, construction had been halted for years. With support from Microsoft’s Affordable Housing Initiative and the Washington State Housing Finance Commission, we transformed an unfinished hotel into 135 modern, income-restricted apartments for households earning 80–100% AMI.
Nuovo now stands as a strong example of how public-private partnerships can deliver impactful housing solutions in Bellevue—one of the most competitive housing markets in the nation.
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Photo by Brian Miller