Housing Hope coming to Stanwood
Published 9:09 pm Saturday, November 3, 2007
STANWOOD — Housing advocates are chasing down big bucks to build two dozen apartments for the poorest families in need of housing who live in north Snohomish County.
Housing Hope has proposed building Lincoln Hill Village, a 24-unit apartment complex expected to cost about $6 million. The project is planned for 1.5 acres at the corner of 72nd Avenue NW and 276th Street NW of Stanwood.
To start the ball rolling, the Snohomish County Council last week approved an $842,500 loan to the agency. The money will now help Housing Hope apply for more than $3.6 million in state financing, enough money to pay the county back.
The Stanwood location is key for the poor living in north county. Building new affordable housing where it’s needed most allows people the chance to stay close to their churches, schools and jobs, rather than moving them away from their support networks, said Ed Petersen, executive director of Housing Hope.
“This is a way of helping the Stanwood community to take care of its own,” Petersen said.
Lincoln Hill Village isn’t intended to be an emergency shelter or transitional housing where the poor must leave after two years. Housing Hope plans to operate the facility as permanent affordable housing for poor families, with social services provided within the complex.
A family of four earning less than $38,950 a year will qualify for a half-dozen of the townhouse-style, two-story apartments. The other 18 units are intended for even poorer families, including 10 units for those earning $23,350 a year for a family of four.
“If all goes well, we should be in a position to start construction in June and be completed by the end of 2008 or early 2009,” Petersen said.
Getting county backing last week was “absolutely crucial,” said Ed Petersen, executive director of Housing Hope. Without it, other financing is impossible and a project like this requires several sources.
The agency is expected to pay back the loan at 2 percent interest within 30 months. The $42,270 in interest income would be rolled back into an account that pays for other social service projects, said Deanna Dawson, who advises County Executive Aaron Reardon on law and justice and human services issues.
“Housing Hope is really well regarded,” Dawson said. “It’s a worthy project, serving really needy families.”
In a statement, Reardon said that “providing affordable housing is the single most important social issue facing our county today.”
The housing supply is out of balance in Snohomish County, Petersen said.
“The rising cost of housing is the byproduct of a thriving community, which is lifting 80 percent of the boats,” Petersen said. “Twenty percent of our community is being left behind as the economy thrives. Housing costs are going up faster than the lowest segment of the economy can afford.”
Reporter Jeff Switzer: 425-339-3452 or jswitzer@heraldnet.com.
How to donate
For more information about Housing Hope or to donate, call 425-347-6556 or go to www.housinghope.org.
