Housing assistance for the middle class on the eastside

I have a client who has been searching for a condominium for 6-months. Typical problem — what he likes, he can’t afford — what he can afford, he doesn’t like. We even looked down at Othello Station and thought we might find something there. They had several units set aside for low income families to purchase. Here the problem was he made too much to qualify for the set-aside units but not enough to buy the market rate units. What’s a person to do?

Well, we found the answer. Last week we had offer and acceptance on a really nice 2 bedroom / 2 bath unit at Frazer Court in Redmond. How did he do it? There is a great program setup between King County and several eastside cities to preserve and increase the supply of housing for low and moderate income households in East King County.

This program is called ARCH (A Regional Coalition for Housing) and has several below market rate duplexes, condominiums and town homes located in various developments in East King County. During the initial marketing period, maximum income levels are established for buyers. Typically, each development will establish a maximum income for buyers somewhere between 80% and 100% of median income. In addition, maximum income guidelines are often adjusted for both household and unit size.

Finally – a program that helps out the buyer caught in the middle income bracket. Check it out at www.archhousing.org.

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