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August 6, 2020

Financing found for 280 affordable units

By JOURNAL STAFF

REDMOND — The nonprofit Together Center announced this week that it has secured approximately $63.1 million in tax credit and bond financing from the Washington State Housing Finance Commission. That, plus another $6.8 million from Microsoft, will go toward the redevelopment of its old 1980s complex at 16225 N.E. 87th St. in downtown Redmond.

As the DJC first reported in June, the plan, with partner Inland Group, is for two six-story buildings with 280 permanently affordable units. Horizon Housing Alliance will manage the 80 units reserved for the formerly homeless. The other 200 will be for tenants earning between 50 to 60% of area median income.


 
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