Loading...
Title : King County Housing Authority buys Ballinger Commons
link : King County Housing Authority buys Ballinger Commons
King County Housing Authority buys Ballinger Commons
 |
| Ballinger Commons |
By Diane Hettrick
King County Housing Authority (KCHA) has purchased Ballinger Commons, the huge, multi-building apartment complex on 77 acres at N 205th between Meridian and 1st Ave NE.
Ballinger Commons was built in 1989. The clubhouse, fitness center and playground were remodeled 20 years later. The 485 units come in 1, 2, and 3 bedrooms, with some units having two bathrooms. There are two pools, a spa, racquetball court, and tennis courts. Units have washers and dryers and most have fireplaces.
In the real estate listing, one of the selling points was that the rents could immediately be raised an average of $300 a unit. Current rents range from $1200 - 2000.
"The only thing the tenants will notice," said Dan Norman, Deputy Director and Chief Development Officer, "is that their rents won't go up."
The King County Housing Authority is an independent municipal corporation, serving all of King county outside of Seattle. It was formed in 1939 by the State of Washington to provide affordable housing and related services. Their first project was to provide affordable housing for miners in Black Diamond so they could live close to their jobs. After that, they focused on providing housing for defense workers during WW II.
Their mission is to preserve affordable housing, so that people with incomes at less than 50-60% of median can afford to stay in their communities and live near their work.
Although the goal at each property is to have half of the units rented to income-qualified tenants, there are no plans to displace current tenants.
Norman said that KCHA is very excited to acquire Ballinger Commons. The units have large bedrooms and KCHA appreciates all the trees.
They are enthused about what is happening in Shoreline, said Norman. The Commons is close to jobs, good schools, the Aurora transit center, pretty good public transportation, and soon, the 185th Sound Transit station.
It's the largest single property they have acquired at one time, although Norman said they have one of equal size in Bellevue that was purchased in three sales, as property became available.
KCHA is the largest landlord in King county, owning over 100 properties.
KCHA also owns Ballinger Homes, a complex on Ballinger Way. It is federally funded, with federal rent subsidies. They administer the Section 8 voucher program for the Federal Government. There is currently very little funding for Section 8, although the need is still great.
KCHA receives no funds from state, county, or cities. They cover operating costs by rents charged to tenants and federal funding. Their annual consolidated budget is about $221.7 million. About 400 employees work at the Tukwila headquarters and field offices around King County.
They are governed by a five member volunteer Board of Commissioners, appointed by the county executive and approved by the King County Council. They partner with social service agencies to provide support services to tenants.
Thus Article King County Housing Authority buys Ballinger Commons
That's an article King County Housing Authority buys Ballinger Commons This time, hopefully can give benefits to all of you. well, see you in posting other articles.
You are now reading the article King County Housing Authority buys Ballinger Commons with the link address https://wordcomes.blogspot.com/2018/01/king-county-housing-authority-buys.html
0 Response to "King County Housing Authority buys Ballinger Commons"
Post a Comment