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For immediate release

For more information contact:
Rhonda Rosenberg, Director of Communications
King County Housing Authority
(206) 574-1185

New home construction begins at Greenbridge

Partnership between King County Housing Authority and HomeSight marks first chapter of homeownership activity at this mixed-income, master-planned com

Sept. 28, 2010 — White Center

Construction of the first for-sale homes at Greenbridge, a 96-acre, Three-Star Built Green™ master-planned community in White Center, has started.  This marks the beginning of homeownership activity at the site where 448 rental apartment homes have already been built.  Seven energy-efficient, custom designed, single-family homes will be located at the corner of Southwest 100th Street and Eighth Avenue Southwest, completing the last undeveloped parcel along the Eighth Avenue corridor. HomeSight, a nonprofit real estate development and mortgage lending organization, and KCHA have been working together to design and develop the three- and four-bedroom homes.

“This partnership marries Housing Authority resources with HomeSight’s expertise,” said Stephen Norman, executive director of the King County Housing Authority. “Together, our two agencies can assure the affordability of high quality homes for families earning up to 80 percent of the area median.”

At Greenbridge, up to 450 new homes will eventually be offered for sale at a variety of price points.  The HomeSight project is intended to be affordable to families earning 80 percent of the King County median income or $68,480 for a family of four.

The five three-bedroom, 2.25 bath homes will be priced starting at $249,900; the two four-bedroom, 2.5 bath homes will be offered starting at $274,900.

To enhance the affordability to low-income first-time homebuyers, HomeSight will offer purchase assistance loans that can be layered on top of conventional mortgages for up to $45,000.

“As an organization dedicated to building strong, vibrant communities through homeownership and economic development, we are excited to bring quality homeownership opportunities to the Greenbridge community,” said Tony To, executive director of HomeSight. “The housing crisis notwithstanding, we are seeing a strong demand for smaller, less-expensive, energy-efficient homes located in good neighborhoods. These homes fit the bill.”

Located just a few blocks from White Center’s commercial core, Greenbridge  will be comprised of about 1,000 rental and for-sale homes for a mix of households with very-low to moderate incomes when completely built out.  The neighborhood includes the White Center Heights Elementary School; the Educare Early Learning and Head Start Center, funded through a collaboration between the Bill & Melinda Gates and Warren Buffet Foundations; a community center run by Neighborhood House and the Southwest Boys & Girls Club; a YWCA Adult Learning Center; a King County branch library; and an extensive park and trail system. The award-winning project has been certified as Three-Star Built Green™ by the Master Builders of King and Snohomish Counties and features a number of creative approaches to environmental sustainability, including biofiltration swales to clean surface water runoff and narrower road widths to help calm traffic.

Johnson Braund Design Group is providing architectural services for the HomeSight homes.  Peter Davis Builders is the general contractor for the project.

The first two homes will be ready for purchase and move-in sometime in March 2011.

Interested buyers should contact HomeSight at (206) 723-4355 or visit www.homesightwa.org for more information about these homes and free homebuyer education classes.

KCHA administers a range of quality affordable rental and homeownership programs in the Puget Sound region.  The Authority serves more than 18,000 households on a daily basis.

HomeSight is a full-service, nonprofit real estate developer and mortgage lender serving Seattle, King County, Snohomish County, and Tacoma. Since 1990, HomeSight created more than 1,400 first-time homeowners.

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