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| Overlake Bellwether Housing |
The City of Redmond is seeking to enter into a 2.4 acre purchase and sale agreement with Bellwether Housing for the acquisition of a commercial property on the ground floor of an affordable housing project. This project is located adjacent to the Overlake light rail station and will contain two additional commercial spaces and 328 affordable housing units.
Approval of the purchase and sale of Bellwether allows the City of Redmond to acquire coveted commercial space in the Overlake Neighborhood right next to light rail. The development will include a six-story, mixed-use building housing small businesses, “mini town hall,” and nonprofit services. ·
Most importantly, affordable housing for ~328 homes include studios, 1, 2, and 3-bedrooms will be available at 30% to 80% Area Median Income (AMI) however, families will qualify only for 50% AMI.
Below are outlined some other potential benefits:
City services: Potential for increased access to city services, such as customer service, translation services, bill pay, mobile integrated health, Police desk, and other city services, along with rotating art.
Co-location of 1,600 sq commercial condo adjacent to a planned multicultural small business hub. The City envisions the use of the parcel as a dedicated to open space, suitable for small-scale community use.
Multicultural services: In the Overlake Intercultural District more than 42% of the residents are foreign born and 46.5% speak a language other than English at home.
Multi-modal transportation on sidewalks and streets close to the Overlake Station.
The Mayor has approved allocating $1 million in funds budgeted for Bellwether's housing development. King County staff have proposed a matching contribution with an additional $1.15 million. City staff has applied for federal and state grants to support the acquisition and tenant improvements. The City was successful in receiving a state grant earmark.
Source: Council Committee of the Whole, 8/5/2025 (Election Day)
