A significant redevelopment project is on the horizon for Bellevue, as the Planning Commission has recommended approval for a $28 million affordable housing initiative. The project, which aims to transform a long-vacant site previously occupied by a putt-putt golf course, is set to utilize $1.5 million in tax increment financing (TIF) to cover part of its estimated $2.3 million in eligible redevelopment costs.

The proposal, presented by representatives from Great Lakes Capital, emphasizes the urgent need for affordable housing in the area. The development will feature 96 units, including a rare offering of three- and four-bedroom apartments, which are increasingly hard to find in the metro area. The project is designed to cater to both low-income and workforce housing needs, with rents starting at approximately $650 for one-bedroom units and reaching around $950 for four-bedroom units.

Planning staff and the finance director have reviewed the application and expressed confidence in the proposed interest rates. The site has been designated as blighted since 2007, making this redevelopment a crucial step toward revitalizing the area. The developers anticipate starting construction in 2026, with an estimated build time of 18 months.

This initiative not only addresses the pressing demand for affordable housing but also aligns with state statutes aimed at eliminating blighted conditions. As Bellevue continues to grow, this project represents a significant investment in the community's future, promising to enhance living options for families in need.