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December 23, 2021

With $22M land sale, Inland Group plans 467 Totem Lake units

By BRIAN MILLER
Real Estate Editor

As planned, Inland Group has acquired a 4-acre development site at 12335 120th Ave. N.E. in Kirkland, where it's proposing a 467-unit affordable housing project, Polaris at Totem Lake. King County just recorded the sale, with CAP Development LLC as the buyer of record.

Public records indicate a loan from the Washington State Housing Finance Commission. Earlier this year, the WSHFC approved a bond issue of up to $19.2 million to support the project. The city of Kirkland also loaned nearly $2.6 million for the land acquisition.


 
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