New affordable housing development breaks ground in Snoqualmie: who qualifies and what is ‘affordable’ rent?

An affordable housing project that has been a topic of discussion around Snoqualmie for years officially began this week in the Eagle Pointe neighborhood of Snoqualmie Ridge. The City of Snoqualmie will hold a Construction Site Groundbreaking for the project on September 24th at 3PM, located at Frontier Ave SE and Jacobia Street.

The city recently issued a clearing and grading permit to Panorama Apartments, which will pave the way to a 191-unit affordable housing apartment complex consisting of ten two-to four-story ‘carriage houses.’

The buildings will be constructed on the sloping property with the tallest units located farther down the slope. Smaller unit will be adjacent to neighborhood to blend with single-family homes.  The complex will also include 316 parking spots (295 open and 21 garage); a leasing office; an indoor rec center; and outdoor recreation space.

In its initial project application, Panorama said apartments would vary in size and include one to five bedrooms floor plans. Panorama Apartments is a subsidiary of DevCo, Inc which built Discovery Heights in the Issaquah Highlands.

Access to the development is on Frontier Ave off of Jacobia Street, a main entrance road into the Eagle Pointe neighborhood. There’s also a secondary, emergency-access only road provided via the adjacent Snoqualmie Valley Hospital property, which city officials say contractors will attempt to use whenever possible during construction.

Snoqualmie Community Development Director Mark Hofman said he anticipates completion of the apartment complex in late summer 2019. When finished it will fulfill the affordable housing program requirements for the Snoqualmie Ridge II master-planned community.

Hofman said the Federal Tax Credit funding awarded to DevCo is based on 60% AMI, meaning the new apartments will be available to households whose income is below the 60% AMI (Area Median Income) level. In 2018 the King County AMI for a family of four is $103,400.  Rents will be below market rate, but are not subsidized. Renters will still go through a normal leasing application process.

Typically, each size apartment unit comes with a maximum income level and an established maximum rental rate depending on size. The below chart is a rough income level and rental cost guidenline from ARCH for privately managed, non HUD assisted affordable housing complexes in east King County, which includes DevCo’s Discovery Heights complex.

The chart is only a rough reference point for current affordable housing rates and income qualifications. Rental rates and qualifications can change annually as AMI levels reset and can vary from different management companies. Until the new complex begins the leasing process, exact rates and income qualifications will not be known.

The City of Snoqualmie says affordable housing is a top priority and hopes the new development  can fill a “gap in affordable housing available and what many current and potential Snoqualmie residents and employees can comfortably afford.”

 

 

Panorama Apartments, LLC conceptual project site design. Note: not final design.

 

 

Comments

  1. When can we start an application to see if we qualify next year for housing? thank you

  2. I hope this doesn’t have too big of an effect on parkway and off-ramp traffic, particularly the backups that occur approaching I-90 at various times of day. Do you know when they anticipate having tenants move in?

  3. Shilpha Parakala says

    Hi, I am on Mahonia, right along one of the borders of where this project is being constructed. Today,may I experienced atleast a 10 min earthquakish feeling in addition to experiencing a quite a lot of vibration.

    I was always concerned about the impacts of construction and construction equipment on the retaining wall of our house but today I am honestly concerned about our house itself

    Has there been any analysis done on the construction impact to the existing homes? Can I get a report of it, I need to see the impact of homes on Mahonia St.

    Also, where is the detailed elevation and construction plan of the buildings ? Their impacts t OK the existing single family homes? Building A does not have a decent clearance, I am not sure if the approved plan for A is per the rules
    Thanks
    Shilpha

  4. lupe maynez says

    we’re still interested in the affordable housing keep us updated on when we can apply. thank you.

  5. Oscar Maynez says

    can you give me an update on the affordable housing in snoqualmie.

  6. Oscar Maynez says

    can you give me an update on the affordable housing in snoqualmie, thank you

  7. lupe maynez says

    please keep me posted on any update on the affordable housing, thank you!

  8. Vanessa Sheppard says

    When can we try to apply. My husband and I are very interested.

  9. Oscar Maynez says

    any new up dates on this affordable housing project in snoqualmie?

  10. Oscar Maynez says

    We are still interested , when can we apply ?

  11. hi, has there been any updates on this affordable housing lately? we are still interested. thank you.

  12. im also interested in any MFTE 1 bedroom units availabe. is there a panorama website to learn more?

  13. im also interested in any MFTE 1 bedroom units available. is there a panorama website to learn more?

  14. Oscar Maynez says

    does anyone know if these apartments available now ?

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