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New Evergreen Impact Housing Fund, GMD Development project brings 145 affordable units to Renton [Yahoo! Finance]
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April 19, 2024 /PRNewswire/ -- The Evergreen Impact Housing Fund (EIHF) and GMD Development are pleased to announce the grand opening of the Watershed apartment community . Located in Renton , Watershed brings 145 affordable apartments capable of housing over 350 individuals. The units are designed to be affordable to families earning 50-60% of King County's annual median income, approximately for a household of four. Watershed offers a mix of units, including spacious two- and three-bedroom units, addressing the common challenge of inadequate space in metropolitan affordable housing. 20% of the units are three-bedrooms for larger families. Washington State has an affordable housing crisis. There's no denying it," says Kris Hermanns , fund manager of EIHF at Seattle Foundation. "It's difficult to build large-scale, affordable housing with family-size units. By investing in innovative funding solutions and working in collaboration with seasoned partners like GMD, the Washington Sta
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