HASCO brings affordable housing to 200th Street in Lynnwood
EVERETT, WA – New affordable housing is coming to Lynnwood for seniors and families! HASCO, joined by elected officials, funding partners, and community members, held a groundbreaking ceremony on November 10 for The Bow Tie, a 124-unit affordable housing development for seniors and families in south Lynnwood.
“We are honoring Bob Davis, the former Executive Director of HASCO. His leadership (and custom of sporting a Bow Tie) paved the way for this cross-generational community. These homes will allow a mix of families and seniors to live close to transit and nearby amenities. ” said Laurie Olson, CEO of HASCO.
Other attendees included Lynnwood Mayor George Hurst, former HASCO Executive Director, Bob Davis, and Washington State Treasurer, Mike Pellicciotti.
“Building housing that centers the community is essential and The Bow Tie is the type of project our state must continue prioritizing as we work to address housing demand across Washington,” said Pellicciotti. “Breaking ground marks a critical turning point, but our shared goal is ultimately dignity and connection for seniors, families, and neighbors.”
The Bow Tie Senior apartments are a 9% low-income housing tax credit community that will provide 60 affordable units to low-income seniors, ranging from 30% – 60% of the Area Median Income (AMI). The Bow Tie Family apartments are a 4% low-income housing tax credit community that will provide 64 affordable homes for families up to 60% AMI. Upon completion, it will have onsite management, a community room, game room, bike storage, A/C compatible units, & EV Parking.
SMR architects will lead design and WALSH will handle construction. Construction is set to begin this winter, with a completion date in 2028.
Partner Investment
The Bow Tie is the first Amazon-funded, new construction, affordable housing development in Snohomish County, alongside significant investments from Snohomish County and the Washington State Housing Trust Fund.
“We believe that families and seniors deserve the chance to stay close to the communities, transit, and services they rely on, and this partnership with HASCO, Snohomish County, and the Washington State Housing Trust Fund helps make that possible. We’re proud to support HASCO’s vision for The Bow Tie and to extend our commitment to Snohomish County.”, said Lily Kim, from the Amazon Housing Fund.
The Bow Tie is funded through a partnership of various investors, including:
-$32M in low-income housing tax credit investment from RBC Bank
-$39.5M through a bond issuance facilitated by KeyBanc Capital Markets
-$6.1M through Snohomish County
-$6.5M through The Amazon Housing Fund
-$5M in funding through the Housing Trust Fund from the Washington State Department of Commerce
-$1M through the Department of Commerce Connecting Housing to Infrastructure (CHIP funds), through the City of Lynnwood
Following its acquisition by HASCO in 2019, HASCO worked with residents on relocation in 2023. The two properties that once stood on 200th Street, built in 1968 and 1981, were demolished in 2025.
Affordable Housing in Lynnwood
Over the past decade, both home prices and rental rates have increased drastically. Nearly one-third of renters in south Lynnwood are severely cost-burdened, spending at least 50% of their income on rent. The U.S. Department of Housing and Urban Development (HUD) defines
housing as “affordable” when it consumes no more than 30% of a household’s income.
Most affordable housing in Lynnwood consists of older apartment complexes, many built under a density bonus program that allowed additional units. As these buildings age, some units will eventually need replacement. The Bow Tie offers a model for that future.
About HASCO
Founded in 1971, HASCO provides housing solutions for the people and communities of Snohomish County. HASCO connects people with federal and local programs that help with rent, provide affordable housing in places we own and support our tenants with services.
With over 4,000 voucher holders and an ever-growing portfolio of over 2,700 homes, HASCO leads within a network of housing services providers, working toward a future where all Snohomish County residents have good quality housing, and places to call home.