Bellevue/olive Apartments
1641 Bellevue Avenue
Seattle, King County, Washington 98122

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Funding Programs

Bellevue/olive Apartments was developed and operates with Federal housing financing. The property utilizes the Low Income Housing Tax Credit Federal housing program to make rent affordable to lower income tenants.

Low Income Housing Tax Credit

The property was developed using the Low Income Housing Tax Credit Program. This program incentivizes investors to inject capital into rental apartments for lower income Americans. The property received a tax credit allocation in 1993 for $466,954 with a 10 year value of $4,669,540. The property was placed in service in 1995. 47 of 52 units at Bellevue/olive Apartments are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was located in a Qualified Census Tract qualifying it for additional tax credit financing.

Overview

Bellevue/olive Apartments is an affordable apartment community located in Seattle, Washington which is located in King County. The property is located in Washington's 7th Congressional District served by Representative Pramila Jayapal (D), Senator Patty Murray (D) and Senator Maria Cantwell (D).

Rental Subsidies

This property does not provide any Federal rent subsidies to renters reducing total tenant payments to 30% of their adjusted income. Renters are required to pay the full rent, even if it is in excess of 30% of their income. In some cases the property may accept Section 8 Housing Choice vouchers.

Washington's 7th

Congressional District

47

Tax Credit Units

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† These counts are estimates based on the data available from HUD. Learn More About Our Data