White Center – October 24, 2013 – (RealEstateRama) — HomeSight and the King County Housing Authority will mark the groundbreaking of eight new affordable homes located in Greenbridge with a celebratory pre-sales event. Greenbridge is a 96-acre, Three-Star Built Green™ master-planned community in White Center. The event will be held at noon on Saturday, October 26th in Umbrella Park, located at the corner of SW 100th Street and 7th Avenue SW, across from the Educare Early Learning Center in White Center.
HomeSight Executive Tony To, KCHA HOPE VI General Manager Deborah Gooden and BECU Mortgage Sales Consultant Marie Nunley will be on hand to make brief remarks.
Staff from HomeSight will be available until 2 p.m. to meet with prospective homebuyers to discuss their eligibility to purchase the homes. Members of the community and families interested in learning more about qualifying to buy a home are encouraged to attend. Reservations for the single-family homes, which will be located on SW 100th Street between 5th and 6th Avenue Southwest, will also be taken.
“With the market for new homes heating up, we’re especially excited to offer these beautiful, energy-efficient homes to families who might otherwise be priced out of the market,” said Tony To, executive director of HomeSight.
Up to 450 new homes will eventually be offered for sale at Greenbridge at a variety of price points. The HomeSight homes are intended to be affordable to families earning at or below 80 percent of the King County median income or $64,400 for a family of four.
“These homes reflect the Authority’s commitment to provide an array of homeownership opportunities in the community,” said Stephen Norman, executive director of the King County Housing Authority.
This is the second set of homes at Greenbridge offered for sale by HomeSight. The first seven homes, which are now occupied, were sold in 2012.
These new homes build on the successful partnership between the housing authority and HomeSight, a community-based real estate developer and mortgage lender that works with first-time homebuyers. Parkview Services, a nonprofit organization that helps people with disabilities find stable housing, is a new partner and will market three of the homes.
Up to $75,000 in deferred down payment assistance loans is available for each home. The Federal Home Loan Bank of Seattle in cooperation with BECU is providing $35,000 per home in forgivable loans. King County and The Washington State Housing Trust Fund are contributing additional deferred loan funds based on need.
The Greenbridge neighborhood features a new elementary school, library, public health clinic, and early learning center, as well as neighborhood-scale retail including a coffee shop and a fitness center. It is easily accessible to downtown Seattle.
HomeSight and the King County Housing Authority worked together to design and develop the three- and four-bedroom homes.
Amenities and Floor Plans
The six three-bedroom, 2.25 bath homes are priced starting at $265,000; the two four-bedroom, 2.5 bath homes are offered starting at $285,000.
The three-bedroom model is 1,349 square feet. It features an open kitchen overlooking a combined living/dining space. An alcove suitable for use as a small study is located off the living/dining area.
The four-bedroom model is 1,500 square feet. It features a large eat-in kitchen and a separate formal living room. A bedroom and a 3/4 bathroom are located on the main floor. For an extra fee, early buyers of this model can opt to add a one-car garage.
Both models include energy-efficient appliances 9-foot ceilings, an abundance of ENERGY STAR windows, patios in fenced back yards, landscaping, and inviting front porches. Easy-to-maintain concrete fiber siding protects the traditionally styled, Built Green™ homes with contemporary floor plans. Carpeting and vinyl flooring, as well as off-street parking, round out the amenities.
Johnson Braund Inc. is providing architectural services for the HomeSight homes. BDR Renewal is the general contractor for the project.
Affording and qualifying for these traditionally styled homes
Presales of the HomeSight homes, which will be available for occupancy starting April 2014, are underway.
To enhance the affordability to low-income first-time homebuyers, HomeSight is offering purchase assistance loans of up to $75,000 that can be layered on top of conventional first mortgages.
Reservations are now being accepted for these eight homes. 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. Prospective buyers can also contact their real estate agent to view the homes at their convenience.
More about the Greenbridge Community
Located just a few blocks from White Center’s commercial core, Greenbridge will be comprised of about 1,000 rental and for-sale homes with a mix of household 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.
HomeSight is a full-service, nonprofit real estate developer and mortgage lender serving Seattle, King County, Snohomish County, and Tacoma. Since 1990, HomeSight has created more than 1,700 first-time homeowners.
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.
Attachment: Photo by William Wright Photography. Photo of previously built HomeSight home at Greenbridge.
Rhonda Rosenberg, Director of Communications
King County Housing Authority