**BRIDGE Housing and Amazon Partner on Major Affordable Housing Conversion in Kirkland**
BRIDGE Housing, a nonprofit affordable housing owner and developer, has acquired Vue Kirkland Apartments in Kirkland, Washington, with plans to convert all 200 market-rate units into affordable housing. This acquisition marks BRIDGE’s largest market-rate conversion to date and represents a continuing partnership with Amazon, which is also financing a nearby 234-unit BRIDGE development in Bellevue.
“Converting market-rate units is a critical strategy in our mission to increase the supply of long-term affordable housing where it’s needed most – in high-demand, high-cost markets like Kirkland,” said Ken Lombard, President and CEO of BRIDGE Housing. “We’re proud to expand our presence in the Seattle area and we deeply appreciate the support of our municipal and financial partners, including Amazon, in making the Vue Kirkland acquisition possible.”
BRIDGE plans to convert all 200 units into rent-restricted apartments through natural resident turnover. As part of a partnership with the City of Kirkland and ARCH (A Regional Coalition for Housing), BRIDGE will receive a gradually increasing property tax exemption that reaches 100% as each unit transitions to affordable housing.
This strategic effort reflects an ongoing commitment to address the critical need for affordable housing in the greater Seattle region.
