Most price-restricted housing in the region is funded directly by cities, counties, nonprofit groups, charitable donations and other sources. The City of Bellevue works to fund affordable housing projects with good leverage rates, meaning that others are also chipping in to make the city's dollars go furthest.
Affordable housing creation in Bellevue
There are many mechanisms by which affordable housing may be built or preserved in Bellevue. Some incentives exist for developers to include affordable housing as a portion of their market-rate project. Details about this can be found at Constructing Affordable Housing.
The city also partners with ARCH to fund projects through a Housing Trust Fund process along with 15 other member cities and King County. Other funding mechanisms include tax revenue collected under state laws such as House Bill 1590 (Housing Stability Program below) and House Bill 1406.
The city also partners with the King County Housing Authority and major employers such as Amazon and Microsoft, which have committed funding towards creation and preservation of affordable housing.
Each year, the city receives funds from the federal Department of Housing and Urban Development (HUD) for housing and community development activities that address priority needs locally identified by the city that include assisting low- and moderate-income residents with:
- Provision of decent housing
- Providing suitable living environments
- Expanding economic opportunities
Housing Stability Program
The Housing Stability Program (HSP) invests capital funding into targeted affordable and supportive housing developments in Bellevue that serve the city’s most marginalized residents and funds services critical for stable living. The HSP makes funding available from sales tax revenue authorized under RCW 82.14.530 (HB 1590) and approved by the City Council.
HSP funds are advertised annually in late Q2 via Request for Proposals (RFP), with applications due in late Q3. Applicants may request funding for capital investment and/or for building-related operations, maintenance and services in Bellevue. Council direction has established the following priorities:
- Provide housing for households earning below 30% of the area median income (AMI)
- Address and prevent homelessness and housing instability
- Focus on underserved, vulnerable residents in Bellevue
Bellevue is a member of A Regional Coalition for Housing (ARCH), which administers the funding process to invest Bellevue and other cities’ resources for affordable housing across the Eastside. The HSP RFP is designed to complement and leverage existing funding processes, while creating a significant impact on housing needs in Bellevue.
The HSP 2026 RFP is now available on both ARCH's website and the Housing Stability Program RFP page.
City-Funded Projects
The City of Bellevue has funded a number of projects over the years. Most recently, the following project funding efforts have been approved by City Council:
| 2025 | - Bellwether Housing (Bellevue TOD Project): $2 million in predevelopment funds to support the development of the Bellevue TOD Project on a roughly half-acre, city-owned, parcel in the Wilburton neighborhood.
- Hopelink and SRM Development (Altaire at East Main): $14.4 million in HSP capital, $3.4 million in Housing Reserve capital, and $517,852 per year for five years for Operations, Maintenance, and Services (OMS). Funding will support the development of approximately 145 affordable rental apartments and one on-site manager unit, with a mix of one-bedroom plus den, two-bedroom, and three-bedroom homes affordable to households earning 30%, 40%, 50%, and 60% of the area median income. The project will also set aside 37 units for families exiting homelessness.
- Imagine Housing (Forest Edge): $6 million in HSP capital, $6.1 million in Housing Reserve capital, $120,000 per year for five years for Operations, Maintenance, and Services (OMS). The Forest Edge development is a partnership between Imagine Housing and Saint Andrews Lutheran Church (SALC), whose members were the original founders of Imagine Housing. This project will be one of the first to utilize Bellevue’s faith-based development incentive land use code allowing affordable housing to be expanded on faith-owned property. The project will include studios, one-bedroom, two-bedroom, and three-bedroom homes affordable at 60% AMI along with onsite parking, an onsite resident service coordinator, and units dedicated for households with disabilities.
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| 2024 | - Catholic Housing Services (Maurice Elbert House): $221,579 in HSP capital and $13,300 per year, for five years for Operations, Maintenance, and Services (OMS). Capital funding provided one additional affordable unit at 30 percent area median income in a 49-unit affordable senior housing building by covering the cost of converting a property manager’s office to a residential unit. Ongoing OMS will help fund a Resident Service Coordinator position to provide services and referrals to residents.
- Low Income Housing Institute (Aventine Apartments): $13.5 million in HSP capital and $339,041 per year, for five years, for Operations, Maintenance, and Services (OMS). Funds supported the acquisition of the 68-unit Aventine Apartments in Downtown Bellevue. LIHI intends to convert two rental units into case manager and behavioral health staff offices to provide on-site services to residents. Ongoing OMS will help fund services to residents. The remaining 66 units will be affordable and serve veterans, households with members that have physical disabilities, households exiting homelessness, and low-wage workers.
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| 2023 | - BRIDGE Housing (Spring District 120th Station Transit Oriented Development (TOD)): $6.5 million in HSP capital and $485,851 per year for five years for Operations, Maintenance, and Services (OMS). Bridge Housing’s Spring District 120th Station TOD project, located at 1601 120th Avenue NE, consists of 235 permanently affordable units at 50-60 percent AMI, including 40 units serving people with intellectual and developmental disabilities, and two manager apartments. City funding will be dedicated specifically to 40 units serving eligible households with disabilities.
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| 2021 | - Porchlight (Eastgate Men's Shelter): $3.6 million of city capital housing funds. Funding advanced the city policy objectives to ensure completion of a long-planned permanent, year-round 100-bed shelter for homeless men, support project enhancements identified through the Good Neighbor Agreement Advisory Committee process, and to work with state, county and local funding partners.
- Plymouth Crossing (Eastgate Supportive Housing): $400,000 in HSP Operations, Maintenance, and Services (OMS) funds. This funding advances city policy objectives to create a 95-unit permanent supportive housing project with preference to serve homeless individuals referred from Eastside shelters, while leveraging state, county and local funding partners.
- Illahee Apartments: $4 million was allocated to the King County Housing Authority for preservation of the 36-unit Illahee Apartments. This funding award advances city policy objectives, including preservation of affordable housing; preventing displacement of existing residents; providing immediate housing opportunities for homeless families in the community; leveraging private philanthropic support; and creating permanently affordable housing that will serve very low-income residents well into the future.
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