Bellevue has and still is a high demand market for residential living. With so many people wanting a piece of the real-estate pie, the expenses of living in Bellevue are undoubtedly becoming increasingly more difficult to meet. King County Housing Authority, however, has reached an agreement with local builder Intracorp to keep the Highland Village apartment complex as an affordable place to live in Bellevue.
The agreement will keep the current 76 apartments at affordable housing which went against Intracorp’s initial plans to redevelop the property into 87 townhouses to be sold. The surprising change of heart from Intracorp will set aside those plans so that the apartments and the families that live in them stay put.
“The City of Bellevue is extremely pleased to see this important affordable housing resource preserved,” said Bellevue Mayor John Stokes in a statement. “Preservation of existing affordable housing aligns with our council priorities and we are fully committed to making this project happen.”
The hard-working family residents of Highland Village will maintain their homes where their location is optimal for schooling, work, and transit. Without the support and cooperation of Intracorp and the determination by multiple levels of government, the Highland Village apartment residents would not have the opportunity to stay.
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