HFC approves funding for Hopelink

Ronald Commons. Hopelink is the light blue
one story building.
Photo by Steven H. Robinson

The Washington State Housing Finance Commission approved a total of $269.5 million in financing for the rehabilitation or new construction of more than 1,100 affordable apartments in small and large communities across the state.

The projects range from much-needed rehabilitation of public housing in Aberdeen to new apartments for the homeless in Spokane, Yakima, Seattle and Renton. They include the second group from the 2017 Low-Income Housing Tax Credit competition to be approved by the governor-appointed Commission.

In addition to the housing projects, the Commission approved a $13.3 million tax-exempt bond for the east and north King County (Shoreline) nonprofit Hopelink.

This financing supports Hopelink’s new Ronald Commons service center at 17939 Aurora Ave N in Shoreline, which includes a food bank and education, employment and other services there.

It will also help Hopelink build another integrated service center at 15511 NE 90th St. in Redmond, which will house administrative staff, a food bank and a full range of services.

The Washington State Housing Finance Commission is a publicly accountable, self-supporting team that works with lenders, investors, developers, nonprofit organizations and more to bring private investment dollars to benefit families and achieve public goals throughout Washington. The Commission has created and preserved more than 334,000 affordable homes across the state, while contributing more than $42.5 billion and 240,000 jobs to the economy.