MILL CREEK — A new apartment complex taking shape along the Bothell-Everett Highway is expected to provide affordable homes for 228 families after its scheduled opening in spring 2014.
Plans for the District Apartments south of Mill Creek call for 16 buildings. While most of the units will have two or three bedrooms, a few would have as many as five bedrooms for large families.
The state Housing Finance Commission supported the project by issuing more than $32 million in tax-exempt bonds. The commission also extended nearly $11 million in tax credits to the developer, DevCo of Bellevue.
The Housing Finance Commission is tasked with monitoring rent and income requirements at the complex over the next 30 years. All apartments will be restricted to families with incomes at or below 60 percent of the federally estimated area median income, now $52,020 for a family of four in Snohomish County.