Supported by Amazon and other public- and private-sector funders, BRIDGE’s community in the Spring District will be among the largest affordable developments in Bellevue
BELLEVUE, Wash. (Feb. 27, 2025) – BRIDGE Housing, the leading nonprofit affordable housing developer on the West Coast, celebrated the groundbreaking of a major new affordable housing community in Bellevue today, joined by Bellevue Mayor Lynne Robinson, King County Councilmember Claudia Balducci, executives from Amazon, and other elected officials, dignitaries and community members.
The new transit-oriented community in the Spring District will provide 234 affordable apartments for residents at a range of incomes below 60 percent of the Area Median Income (AMI). Forty apartments will be reserved for residents with developmental disabilities. The community will comprise two mid-rise buildings, 6 and 7 stories tall, on property provided by Sound Transit and within walking distance of a new light rail station on Sound Transit’s 2 Line.
“The groundbreaking of this beautiful new community embodies BRIDGE Housing’s commitment to tackling the affordable housing crisis head-on in areas of high need like Bellevue and throughout the West Coast,” said BRIDGE Housing President and CEO Ken Lombard. “We are grateful to stand shoulder-to-shoulder with dedicated partners at the city, county and state levels, along with business allies like Amazon, to help address this ongoing and urgent challenge.”
Reflecting BRIDGE Housing’s collaborative development approach, a wide variety of funders from both the public and private sectors have provided vital support for the transit-rich project. These funders include Amazon, the Washington State Department of Commerce, King County, the City of Bellevue, ARCH, Citi as construction lender, JLL as permanent lender, the National Affordable Housing Trust as tax credit investor, and others.
“Affordable housing is one of my top priorities,” said Governor Bob Ferguson. “My administration is acting now to make it easier, faster and less expensive to build housing of all kinds. Today’s groundbreaking is an example of doing just that.”
“The need for affordable housing continues to grow, and in Bellevue we are rising to meet this challenge with innovative solutions and the vital support of key partners,” said Bellevue Mayor Lynne Robinson. “We are fortunate to have BRIDGE Housing and Amazon as collaborators helping to create more opportunities for people to call Bellevue home.”
“We know that when people have access to public transit it can have a big, positive impact on their day-to-day lives, and this development is steps away from the Spring District light rail station,” said Alice Shobe, Global Leader, Amazon Community Impact. “It’s the kind of project we created Amazon’s housing fund to support, and we’re grateful for the chance to work with Sound Transit and BRIDGE Housing in Bellevue.”
The new affordable housing community will be an important component of the Spring District, a 36-acre mixed-use, transit-centered neighborhood and part of a thriving, opportunity-rich neighborhood featuring high-tech employers, shops and restaurants, parks and recreational areas, and excellent public schools.
“This site is a testament to creativity, flexibility, and commitment to a vision,” said King County Councilmember and Sound Transit Board Member Claudia Balducci. “Thanks to the commitment from all the partners, we were able to site a necessary piece of maintenance infrastructure while still following through on our vision of the Spring District as a vibrant transit-oriented neighborhood. I’m thrilled that this new affordable housing will bring people of all backgrounds and incomes together to enjoy both everything the Spring District has to offer and access to opportunity across our region through quick and convenient transit on light rail.”
The apartment community will offer comfortable living spaces ranging in size from studios to three bedrooms. Reflecting BRIDGE Housing’s holistic and adaptive support model, residents will receive on-site support services provided by two respected social service organizations based in Greater Seattle: Wellspring Family Services and Open Doors for Multicultural Families, focused on residents with developmental disabilities.
With work underway on this community, BRIDGE Housing currently has more than 1,000 units of affordable housing either open or under development in King County. Overall, BRIDGE’s $4 billion portfolio includes more than 14,000 apartments in California, Oregon and Washington with another 10,000 additional units in the development and acquisition pipelines.
The need for additional affordable housing in the region is significant. Only 23 housing units are available and affordable for every 100 extremely low-income households in King County, leaving a shortage of over 7,000 affordable units, according to County data. Seven of 10 low-income households are considered cost-burdened, meaning they spend at least 30% of their income on housing.
BRIDGE has emerged as a leader in developing affordable housing on transit-adjacent property, providing residents with easy access to cost-effective mobility and contributing to reduced vehicle use and lower greenhouse gas emissions, among other benefits.
The community is expected to be complete in approximately two years. The architect is GGLO, the General Contractor is Exxel Pacific, and property management services will be provided by Avenue5.
Additional Partner Comments:
Washington State Department of Commerce: “Funding through our Connecting Housing to Infrastructure Program (CHIP) does more than put pipes in the ground,” Washington State Commerce Director Joe Nguyễn said. “Combined with the Washington Legislature’s recent historic investment in the Housing Trust Fund, we are growing the capacity of our housing partners to deliver thousands of new affordable housing units across every region of the state. These grants build the foundation for opportunity, security and hope for thousands of Washingtonians, reflecting our commitment to housing affordability and availability.”
National Affordable Housing Trust: “We are proud of our continued partnership with BRIDGE Housing Corporation and their efforts to create additional affordable housing in Washington – especially in the Spring District neighborhood of Bellevue,” said Paul Cummings, Senior Vice President and Director of Originations & Capital Markets at the National Affordable Housing Trust. “BRIDGE has demonstrated an ability to coordinate multiple stakeholders, leverage local and state resources, and develop strong community development assets that both benefit residents and are sound equity investments. We and our investor partner look forward to seeing the completed apartments with residents moved in.”
JLL: “Freddie Mac offers competitive permanent loan solutions for affordable housing. JLL arranged a 17-year, fixed rate loan that compliments the construction phase financing structure, affordability restrictions, and Low Income Housing Tax Credits (LIHTC) requirements,” said Anson Snyder of the JLL Capital Markets Debt Advisory team. “The Spring District transaction represents a significant step in addressing the need for affordable housing in the rapidly growing Bellevue area. The strong support from various funding sources underscores the importance of this development in creating accessible housing options near to transit.”
About BRIDGE Housing
BRIDGE Housing Corporation is a leading nonprofit developer, owner, 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 22,000 affordable homes in California, Oregon and Washington, with a total development cost of $5.8 billion. Its current portfolio totals more than 14,000 apartments that are home to more than 30,000 residents, with more than 10,000 additional units in the development and acquisition pipelines. For more information, visit www.bridgehousing.com.
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