Lynnwood officials break ground on Bow Tie affordable housing complex

Community leaders and elected officials gathered in south Lynnwood on a rainy Tuesday to mark the start of construction for a new affordable housing development. The project, known as the Bow Tie, will rise on the former site of the Pinewood and Timberglen apartments at 5710 200th St. SW. The Housing Authority of Snohomish County, or HASCO, is leading the initiative, which is expected to be completed by 2028.

The complex will provide 124 housing units specifically designed for seniors and families. State Governor Bob Ferguson attended the ceremony, noting that housing needs were the most common concern he heard from residents across all 39 counties of Washington during his campaign. He emphasized that the state must prioritize this issue, citing a record investment in the current budget to address the shortage.

Ferguson stated that the priority for housing would remain unchanged as long as he served as governor. He highlighted the collaborative nature of the project, which involves funding from multiple public and private sources. According to a HASCO press release, the total project cost is $90.1 million.

The financial structure for the Bow Tie includes approximately $5 million from the state Housing Trust Fund and an additional $1 million from the state commerce department. Snohomish County contributed $6.1 million, while the Amazon Housing Fund provided $6.5 million. The remaining funds were secured through $32 million in low-income housing tax credits and $39.5 million from a bond issuance.

State Treasurer Mike Pellicciotti praised the coordination among the various stakeholders present at the groundbreaking. He expressed eagerness to return to the site once the building is finished. The development aims to serve specific income brackets, with 60 units reserved for low-income seniors earning between 30% and 60% of the area median income.

An additional 64 units will be available to families with incomes ranging from 50% to 60% of the area median income. In Snohomish County, that median income figure stands at $151,200 based on Fannie Mae data. Lynnwood Mayor George Hurst pointed out that about 15% of the city's residents live in poverty, with a significant portion of renters in south Lynnwood spending over half their income on rent.

The project aligns with the city's South Lynnwood Neighborhood Plan, which seeks to create and preserve housing for households earning less than 80% of the median income. Hurst described affordable housing as an integral part of the local economy rather than a separate entity. He said the community takes another step toward ensuring everyone has a safe and affordable place to call home.

Residents will have access to several amenities, including onsite management, a community room, a game room, bike storage, air conditioning, and electric vehicle parking. The development is named in honor of Bob Davis, the former executive director of HASCO who served from 1994 to 2016. Davis is well known for wearing bow ties, a habit that inspired the project's name.

HASCO board member Joe Alonzo told Davis that his legacy is reflected in the lives of those who will live in the new units. Davis credited Lynnwood for its early approval of public housing in the 1990s, which paved the way for this development more than three decades later. He used the bow tie as a metaphor for the complexity of housing development, noting that while the process is not natural, consistent effort leads to good results.