News Release
For immediate release
For more information contact:
King County Housing Authority
media@kcha.org
600 Andover Park W
Tukwila, WA 98188
King County Housing Authority announces third issuance of bonds to support affordable housing
July
30,
2025
— Tukwila
A new issuance of municipal Revenue Refunding Bonds in the amount of $101 million will be used to provide permanent financing for four recently purchased workforce housing properties, including Sterling Ridge, Henry House, Brier Woods, and Highlander House, and to pay off existing bonds for the Village at Overlake Station.
King County Housing Authority (KCHA) regularly uses tax-exempt bonds like these to provide permanent financing for much-needed affordable rental homes. KCHA’s excellent S&P rating and strong demand on the bond market supported the success of this issuance, which has a 5% interest rate (37 basis points lower than initially projected) with a 20-year term and 30-year amortization.
This is the third supplement to a 2021 issuance of Revenue Refunding Bonds that has financed a pool of more than 30 workforce housing properties with 3,977 units of affordable rental housing in cities across King County (outside of Seattle).
Through careful financial planning, strategic use of bonds and other financial instruments, and responsible management of long-term obligations, KCHA has become a leader among public housing authorities in preserving affordable housing and ensuring the long-term sustainability of its portfolio.