Bainbridge Island: Quay to Affordable Housing

The owners of three primo location 60s and 70s era apartment buildings are looking at an offer from a developer who would like to see the Quay converted into high priced condos, according to an article in the Kitsap Sun.

The Housing Resources Board  has partnered up with LATCH (Lutheran Alliance to Create Housing) in an attempt to counter the purchase to preserve them for affordable housing.

Folks who live in the apartments now pay between $800 and $1000 a month  according to the article.

Funding for purchasing and updating the three buildings would have to come from the City initially in order toallow for greater possibility of receiving other county and state grants to make the purchase come together.

Will the owners wait it out while the Housing Resources Board scrambles to cobble together their offer when the developer’s offer is on the table?  The article, published October 5, says we’ll find out within the week…

*all information from sources deemed reliable but not guaranteed.