TWG will start construction on two new affordable housing developments near Seattle, expanding its presence on the West Coast.
The firm announced that 192 Shoreline will be located in Shoreline, Washington, and Grata at Totem Lake will be located in Kirkland, Washington, overlooking Totem Lake Park. With just one other housing development in the state, the new communities will be the first fully affordable housing developments for TWG within the Seattle market.
Construction on 192 Shoreline is expected to start mid-2021, followed by Grata at the end of 2021. Both projects are projected to be completed by mid-2023.
Both developments are within King County, one of the wealthiest counties in the country, and both will offer affordably priced living spaces for residents earning less than 50% of the county’s area median income, according to TWG.
The approximately $82 million 192 Shoreline complex will be a seven-story housing development, featuring 250 units ranging from studios to four-bedroom apartments. There will be a community facility to host services and co-ownership partner Alpha Supported Living Services, a local nonprofit organization that has been providing support to individuals and families living with developmental disabilities for nearly five decades.
“Partnering with TWG will help us create a new space to continue supporting the needs of our clients and their families,” said Scott Livengood, CEO of Alpha Supported Living Services. “Our community facility within Shoreline will allow us to reach more individuals and maximize each person’s quality of life.”
The $42 million Grata at Totem Lake will be another seven-story housing development featuring 125 units ranging from studios to four-bedroom apartments. The building will be within a few miles of campuses for Google, Facebook, and Microsoft. The Grata development is supported by Evergreen Impact Housing Fund—housed at Seattle Foundation—which received a $50 million investment from Microsoft last year.
TWG will be partnering for services and co-ownership with a nonprofit.
Both 192 Shoreline and Grata at Totem Lake were designed considering neighborhood connections and high-green building values.
“Twenty percent of the total units are reserved for large households with four or more people, and the properties are pet friendly. Both developments are located in areas that have retained their continuous growth of opportunities,” said Megan Adams, development director focused on Washington and Oregon for TWG.
Headquartered in Indianapolis, TWG is a real estate development company specializing in commercial, market-rate, affordable, and senior housing developments.
