Wen Xu, Senior Vice President of Development & Asset Management
King County Housing Authority
King County Housing Authority
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Apr. 1, 2024 — Shoreline
King County Housing Authority (KCHA) finalized the purchase of a multifamily apartment community in the Richmond Beach neighborhood of Shoreline, Wash., preserving 54 units of rental housing, 39 of which are subsidized through federal Housing and Urban Development (HUD) project-based subsidies, as an ongoing affordable option for individuals and families.
The KCHA purchase of Henry House strengthens affordability protections and preserves access to federal subsidies for current residents.
The Henry House property, located at 351 NW Richmond Beach Road, is situated on a 1.55-acre parcel and includes 54 units ranging from one-bedroom to family-friendly three-bedroom units. KCHA closed on the property March 29, 2024, at a purchase price of $9.95 million.
KCHA purchased the apartment complex amid rising rents and concerns that private ownership may have jeopardized the preservation of federal subsidies on the site, creating a risk that lower-income residents could be pushed out. KCHA ownership ensures housing stability and access to federal support for current and future residents.
Henry House is surrounded by residential single-family homes, condominiums and apartment communities. The property includes on-site parking, laundry facilities, patios, and balconies. Bus stops on NW Richmond Beach Road, directly in front of Henry House, serve Route 302 and 348, which provide access throughout Shoreline and to Seattle. Henry House is in Shoreline School District and is within a 1.5-mile radius of several good schools and is within walking distance to numerous parks including Hillside Park, Innis Arden Reserve, Richmond Beach Saltwater Park and Shoreview Park.
“We are pleased to support the Shoreline community by preserving the affordable housing at Henry House and supporting current residents,” said KCHA Executive Director Robin Walls. “KCHA is dedicated to preserving and expanding the region’s supply of affordable housing. We are pleased to support the Shoreline community in working towards that goal, and we know how important it is to support current residents with continued federal subsidy. We are doubling down on programs we know are working to help residents stay in their neighborhoods.”
