Supported by Amazon, the acquisition of Latitude Apartments will create deeply affordable housing near major employment centers in the costly Seattle region
SAN FRANCISCO (June 10, 2026) – BRIDGE Housing, the leading nonprofit affordable housing owner and developer on the West Coast, has acquired a 108-unit apartment community in Everett, Wash., and will convert all of its market-rate homes into long-term affordable housing.
The purchase of Latitude Apartments marks BRIDGE’s second acquisition in the Seattle region supported by Amazon’s housing fund and continues the nonprofit’s growing strategy of acquiring existing apartment communities to create long-term affordable housing. The majority of units will be affordable to households earning 50% of Area Median Income (AMI), creating deeply affordable housing in one of the region’s most competitive rental markets.
“Creating long-term affordable housing through acquisitions is one of the fastest and most effective ways to expand housing opportunities in high-cost communities,” said BRIDGE Housing President and CEO Ken Lombard. “Thanks to the support of Amazon and other partners, this acquisition allows us to quickly place more homes within reach for working families while making significant investments to improve the property for current and future residents.”
Built in 1986, Latitude consists of 108 one- and two-bedroom apartments across six residential buildings on more than 14 acres. Amenities include a resident clubhouse, fitness center, outdoor terrace with barbecue area and firepit, and a fenced dog park. The community is located in Everett’s Lake Stickney neighborhood, approximately 25 miles north of Seattle. It provides convenient access to major employment centers including Boeing’s Everett facility, as well as regional transportation corridors connecting residents to jobs throughout Snohomish County and the broader Seattle metropolitan area.
BRIDGE plans to transition the community to affordable housing through natural resident turnover over the next several years. Sixty percent of units will be affordable to households earning 50% of AMI, and the remaining units will be affordable to households earning 60% of AMI. Income-qualified households currently living at the property may be eligible for reduced rents immediately.
BRIDGE also plans to invest approximately $4 million in capital improvements designed to enhance resident safety, comfort, and quality of life while extending the long-term viability of the community.
“Everyone deserves a place to call home, and we’re committed to working alongside partners like BRIDGE Housing who share that belief,” said Senthil Sankaran, managing principal of Amazon’s housing fund. “Acquiring and converting existing apartment communities is one of the fastest ways to expand affordable housing options for working families, and Everett is a community full of hardworking people who deserve the stability of knowing they can continue to build their lives here.”
Latitude marks the sixth apartment community acquired by BRIDGE since 2024, totaling over 1,100 units. Overall, BRIDGE’s portfolio includes more than 15,500 apartments, with more than 8,000 additional homes in the development and acquisition pipelines.
“This transaction demonstrates how housing acquisition can deliver affordability at scale in communities where traditional development has not kept pace with demand,” said BRIDGE Chief Real Estate Officer Sierra Atilano. “By combining deep affordability and significant reinvestment in the property, we are creating long-term housing opportunities for residents who might otherwise be priced out of the region.”
The affordability conversion will be supported through a long-term regulatory agreement and financing structure that enables BRIDGE to reduce rents while making substantial reinvestments in the property.
The need for additional affordable housing in the Seattle metro area remains significant. Rising housing costs have made it increasingly difficult for workers in education, health care, manufacturing, public safety, and other essential industries to live near their jobs, underscoring the need for additional affordable housing options throughout the region.
BRIDGE celebrated grand openings of two new affordable housing communities in Seattle earlier this year – St. Luke’s Apartments in Ballard and Copperleaf Northgate in Northgate, developed in partnership with Community Roots Housing. Together, the projects added 319 units of affordable housing for residents.
About BRIDGE Housing
BRIDGE Housing Corporation is a leading nonprofit owner, developer, and manager of high-quality affordable housing on the West Coast, with a mission to strengthen communities and improve lives. Founded in 1983, BRIDGE Housing has participated in the creation of more than 23,000 affordable homes in California, Oregon, and Washington, with a total development cost of $6.8 billion. Its current $5 billion portfolio totals more than 15,500 apartments that are home to nearly 34,000 residents, with more than 8,000 additional units in the development and acquisition pipelines. For more information, visit bridgehousing.com.
About Amazon’s Housing Fund
Amazon’s housing fund is a $3.6 billion commitment to help create and preserve more than 35,000 affordable homes in the Puget Sound, National Capital, and Nashville regions. The fund provides below-market loans and grants to support projects serving households earning 30% to 80% of Area Median Income, with the majority of developments remaining affordable for 99 years. For more information, visit aboutamazon.com/impact/community/housing-equity.
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