The Bellevue City Council gave the green light to fund a 56-unit low-income apartment complex in Downtown Bellevue.
The city’s contribution to the $15 million project will be $635,000. The funding comes from its Housing Fund for the Low Income Housing Institute’s Downtown Bellevue Apartments. The apartment building will be six stories and built on a lot at 204 111th Ave NE by the developer LIHI, which bought the property in 2009.
The apartments would accommodate families with household incomes at 30, 50, and 60 percent of the area median income. The developer, LIHI is applying for $10 million in low-income housing tax credits.
Bellevue City Council gave the green light to fund a 56-unit low-income apartment complex in Downtown Bellevue.
The city’s contribution to the $15 million project will be $635,000. The funding comes from its Housing Fund for the Low Income Housing Institute’s Downtown Bellevue Apartments. The apartment building will be 6 stories and built on a lot at 204 111th Ave NE, by the developer LIHI, which bought the property in 2009.
The apartments would accommodate families with household incomes at 30, 50, and 60 % of the area’s median income. The developer, LIHI, is applying for $10 million in low-income housing tax credits.
