Imagine Housing has informed the City of Snoqualmie that it will not be seeking design or permitting approvals for its proposed 160-unit affordable housing project – for an indefinite period of time the company says.
For over two years Imagine Housing has been working on plans to develop land parcel S-20 in the Eagle Pointe neighborhood of Snoqualmie Ridge. A city press release said the company “has expended considerable time, talent and resources to develop needed workforce housing in the Snoqualmie Ridge community.”
The timeline for developing the site is delayed while the city, the owner of parcel S-20 and Imagine Housing address the challenges of developing on parcel S-20, which the city designated for affordable housing to meet requirements of the Snoqualmie Ridge II Mixed Use Final Plan.
In December, the City of Snoqualmie was considering purchasing parcel S-20 for $600,000, at a significant discount from its $2.1 million market rate. The seller’s stipulation for that price reduction was that the land purchase be completed by the end of 2013. When the City of Snoqualmie decided not pursue purchasing the land and subsequently selling it back to Imagine Housing, the affordable housing developer could not secure financing in time to buy the property at the discounted price.
“Though there are challenges to work through, Imagine Housing remains committed to developing affordable housing for working families in Snoqualmie,” said Ann Levine, Executive Director of Imagine Housing. “We will continue our efforts and collaboration with the city and the community to provide the affordable housing that originally was envisioned as part of the master plan.”
Mayor Matt Larson says the city will continue to “seek every opportunity to meet the affordable housing needs” of the community as Snoqualmie Ridge approaches complete build-out in the near future.
Many residents in the Eagle Pointe neighborhood objected to size and scale of the proposed 160-unit development, saying it was much larger than previous affordable housing developments in Snoqualmie and asked that the project’s size be scaled back.
Although the project never was formally brought before the Snoqualmie City Council, Mayor Larson, council members and the city administration support affordable housing options for Snoqualmie residents with moderate incomes.