Bellevue Awards $12M for Housing Development Project

Bellevue Awards $12M for Housing Development Project
News| March 12, 2026| Jasmine Kilman
Seattle & Northwest + Apartment Buildings

Imagine Housing, a nonprofit housing provider, received $12.1 million from Bellevue’s city council to build 100 affordable residential units at 2650 148th Ave SE in the Lake Hills area.

The four-story project on the land of St. Andrew’s Lutheran Church is slated to break ground in 2027. Imagine Housing has raised $15.5 million for land acquisition and construction costs, reported the Puget Sound Business Journal.

The money adds to a capital stack that already includes $2 million from the state Housing Trust Fund, $1 million from King County/City of Bellevue Connecting Housing to Infrastructure Program, and $500,000 from A Regional Coalition for Housing.

The proposal, dubbed Forest Edge, calls for a four-story property community at 2650 148th Ave SE with homes ranging from studios to three bedrooms, a courtyard, on-site resident services, and underground parking.

Other News

Culver City Mixed-Use Secures $133M Bank OZK Loan

California & West + Apartment Buildings

Lincoln Property Company and McCourt Partners have secured $132.7 million in construction financing from Bank OZK for ElevenOneEleven, a new mixed-use development in Culver City. Senior managing director Lou Friedel and managing director Keith Rosso of Berkadia Los Angeles arranged the financing on behalf of Lincoln and McCourt. Located at 11111 Jefferson Blvd., ElevenOneEleven will tnclude...

Learn more

Slower Job Growth Shifts CRE Demand and Investment Strategies

Apartment Buildings

The U.S. economy may need to add fewer than 50,000 jobs per month to keep unemployment stable, according to a recent Marcus & Millichap report. The number represents a shift from the 100,000 monthly jobs that were previously required. The reason? Marcus & Millichap said that demographic changes, rising worker productivity and reduced immigration are...

Learn more

Infinityy Brings AI-Powered Listings Platform to Senior Living Through Maplewood Partnership

Boston & New England

Boston-based listings platform Infinityy has formed a portfolio-wide partnership with Maplewood Senior Living and its luxury senior living brand, Inspīr. The partnership will bring Infinityy’s AI-powered platform to every Maplewood and Inspīr community, beginning with Inspīr Embassy Row in Washington, DC and Inspīr Carnegie Hill on Manhattan’s Upper East Side. For Infinityy, the partnership marks a...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up