Nonprofit purchases SnoCo apartments, converts to affordable units

Published 1:30 am Friday, June 12, 2026

EVERETT — A California-based nonprofit purchased a Snohomish County apartment complex and will convert the units into long-term affordable housing, the nonprofit announced Wednesday.

The 108-unit apartment complex, Latitude Apartments, is located just south of Everett city limits in the unincorporated Lake Stickney neighborhood. Sixty percent of the units will be affordable to households earning 50% of the area median income, while the remaining will be affordable to households earning 60% of the area median income, according to Bridge Housing, the nonprofit that purchased the apartments.

In a press release Wednesday, the nonprofit said that those who meet the income qualifications could be eligible for reduced rent immediately. It plans to “transition the community to affordable housing through natural resident turnover over the next several years,” Bridge Housing wrote in the release.

Amazon’s Housing Fund, which distributes grants to create and preserve affordable homes across the Puget Sound region, contributed $10.3 million the project, according to a company spokesperson.

A spokesperson for Bridge Housing wrote in an email Wednesday that the nonprofit was unable to comment on the total sale price. Snohomish County records show the property is valued at about $27 million.

Will Geschke: 425-339-3443; william.geschke@heraldnet.com; X: @willgeschke.