Doesn’t it seem like everywhere you look there is new construction these days? The Seattle area is swiftly growing into a hub for industry and innovation, and the rapid employment growth has lead to an increase in demand for housing. It seems like new developments are sprouting up overnight to support the burgeoning population, and housing prices are continuing to climb to impressive heights. In an effort to maintain housing affordability, King County is helping to manage growth and development through a program called ARCH.
A Regional Coalition for Housing, or ARCH, is designed to provide affordable housing in East King County cities. Through a partnership between King County and member cities, ARCH offers the support and resources needed to serve a wide range of housing needs, including affordable ownership.
What buyers should know…
When a home that is part of the ARCH program goes on the market, buyers with a household income at or below a max guideline are given first priority. For the first 60 or 90 days an ARCH home is listed, only buyers who meet this income requirement can make an offer. ARCH also maintains affordability by setting max resale values for each of the homes in its program.
I must also point out that affordable ARCH homes are not located in a forgotten corner of the county; this program provides an excellent opportunity for limited income buyers to afford a home in some of the Eastside’s most desirable communities. For example, our most recent listing in Issaquah Highlands is part of the ARCH program. Check it out here: Issaquah Condo
ARCH also offers a wide variety of housing programs that reach beyond affordable home ownership. To learn more about ARCH, visit their site: http://www.archhousing.org/index.html