TWG Development held a groundbreaking event for its first seniors-only affordable housing property in Washington state. Upon completion, Ardea at Totem Lake will provide 170 new homes for older low- and middle-income residents at 12700 116th Avenue N.E. in Kirkland. The development is supported by a $16.15-million low-rate loan from the Amazon Housing Equity Fund.
“King County, Washington is one of the wealthiest counties in the country, making affordable housing oftentimes unattainable for seniors,” said Allen Dauterman, senior development director at TWG. “We are so proud to introduce Ardea at Totem Lake to the community and provide seniors with an affordable place they can call home, one that is transit-oriented and built with their needs in mind.”
In addition to the Amazon loan, Ardea at Totem Lake also received public funding support from the City of Kirkland, JLL Capital Markets, King County and A Regional Coalition for Housing.
Founded in 2007 and headquartered in Indianapolis, TWG is a fully integrated real estate development company specializing in commercial, market rate, affordable and senior housing developments across the country. With a focus on development, financing, design, construction and management, TWG has transacted over $1.9 billion in development costs and over 10,000 units nationwide.
