News Release
For immediate release
For more information contact:
King County Housing Authority
media@kcha.org
600 Andover Park W
Tukwila, WA 98188
King County Housing Authority acquires multifamily apartment community in Kent
The acquisition will help ensure long-term stability and affordability for current residents
Jan.
23,
2024
— Kent
King County Housing Authority (KCHA) has completed the purchase of a multifamily apartment community in the East Hill neighborhood of Kent, Wash., preserving 116 units of rental housing as an ongoing affordable option for individuals and families.
The 5.03-acre Sterling Ridge property, located at 11328 SE Kent-Kangley Road, includes a significant number of larger apartment homes, including 50 two-bedroom and 50 three-bedroom units. KCHA closed on the property Nov. 10, 2023, at a purchase price of $28 million.
KCHA stepped in to purchase the apartment community amid concerns that escalating rents on this site would increase housing instability and force existing lower-income residents out. While pressure is growing overall on rents in South King County, these market pressures are particularly acute in the case of larger, multi-bedroom apartments, due to an overall shortage of units that are big enough to accommodate families. Sterling Ridge is surrounded by other residential single-family homes, condominiums and apartment communities and has many family-friendly amenities including a shared clubhouse, fitness center and outdoor playground area.
Sterling Ridge lies within the Kent School District, within which a significant number of children reside. Housing instability is widely recognized as contributing to poor academic performance, and preventing the displacement of families and children was a driving factor in KCHA’s decision to purchase the apartments.
“We are excited to be able to acquire Sterling Ridge and maintain this critical housing resource while providing the families and individuals that currently reside there with the promise of stability,” said KCHA Executive Director Robin Walls. “KCHA is dedicated to ending homelessness and improving educational outcomes for our region’s low-income youth, so this decision was a no-brainer. We believe this acquisition will keep families living in the neighborhood they love.”
A Metro bus stop on SE Kent-Kangley Road, directly in front of Sterling Ridge Apartments, serves Route 168, which provides access to the Kent Sounder Station, and Route 162, which travels to Seattle (via the Kent Park and Ride).
KCHA has an existing presence in this area. Three other KCHA workforce housing properties that are affordable to lower- to moderate-income residents – Walnut Park Apartments (140 units), Southwood Square (104 units), and Parkwood Apartments (90 units) – are within a 1.5-mile radius of Sterling Ridge.
About King County Housing Authority
KCHA, a mission-driven organization established under state law, assists more than 23,000 households on a daily basis. The Authority, whose service area includes all of King County outside of the cities of Seattle and Renton, administers rental housing assistance, develops and manages affordable housing, provides support services to low-income residents, and works closely with community stakeholders to address local priorities such as ending homelessness, improving educational outcomes for the region’s low-income youth, and assuring that disabled and elderly households can live with dignity.