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July 6, 2016

$216M OK'd for 967 affordable units

SEATTLE — Washington State Housing Finance Commission recently approved more than $216 million to build or preserve 967 affordable apartments.

Most of the housing is for seniors. The funding is from tax-exempt bonds and low-income housing tax credits.

Ten projects will share the funding. Here are the largest area projects:

• Seattle: Bayview Retirement Community, includes 43 new units of assisted living, 10 new independent apartments, 10 new memory-care units and a renovation ($65 million). Bayview Manor Homes is the developer.

• King and Pierce counties: Shag Affordable Senior Living will rehab 374 units at six senior communities ($42.5 million).

• Everett: Vintage at Holly Village, 149 apartments to be renovated by Vintage Housing Development ($35.3 million).

• Kent: Larc at Kent Station, 131 new apartments for seniors in a complex by Legacy Affordable Retirement Communities ($29 million).




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