On July 1, KCHA purchased two apartment complexes in Kirkland.
We acquired Kirkland Heights at 13310 N.E. 133rd St for $22.1 million. The property has 180 units.
Juanita View, at 11807 101st Place NE, was purchased for $11.5 million. The complex has 94 units.
Both apartment communities were owned by the International Association of Machinists District 751, an aerospace machinists union local.
The acquisition preserves 274 units of affordable housing in high opportunity neighborhoods.
“My special thanks to Commissioner Palmer for her encouragement and support,” said Executive Director Stephen Norman.
Tim Walter, Beth Pearson, and the Asset Management team developed a “win/win” partnership with IAM 751, making this acquisition possible.
Proceeds from the sale will be used by the union to construct one or more training facilities for its members and the public.