The Low Income Housing Institute (LIHI) has recently acquired the Aventine Apartments, a 68-unit building located in Bellevue’s downtown neighborhood. The six-story property, spanning over 74,000 square feet, offers studios and one- and two-bedroom apartments. Its prime location near the new Sound Transit East Main Station, Bellevue City Hall, I-405 and various amenities make it an attractive option for residents.
According to Bellevue Mayor Lynne Robinson,”This successful collaboration between LIHI and Amazon will provide affordable housing options for individuals looking to live and work in downtown Bellevue for years to come.”
Under LIHI’s management,the Aventine Apartments will offer affordable housing options for households with incomes at or below 30%,50%and80% of the area median income (AMI). The acquisition financing was made possible through contributions from various organizations such as City of Bellevue , ARCH , WSHFC Nonprofit501(c)3 bonds , KeyBank,A mazon Housing Equity,Greystar,and Lucky7 Foundation.Later this year,Lihi plans on applyingfor funds fromthe stateHousing Trust Fundto further support their mission.
The article “DowntownBellev ueApartmentsPurchasedfor $29M” originally appeared on Connect CRE.
