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Bellevue Today
By the People, for the People
Bellevue City Council Commits $12.1M to Imagine Housing's Affordable Forest Edge Project
The funding will support a new 100-unit affordable housing development in the Lake Hills neighborhood.
Mar. 12, 2026 at 10:04pm
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Imagine Housing, a nonprofit housing provider, has secured a $12.1 million funding award from Bellevue's city council to advance a new affordable housing development called Forest Edge. The planned four-story, 100-unit multifamily project will offer a mix of income-restricted studio to three-bedroom apartments, along with a central courtyard, on-site resident services, and underground parking.
Why it matters
The Forest Edge development aims to expand the supply of affordable rental housing options in Bellevue's Lake Hills neighborhood, which has seen rising costs and limited availability of income-restricted units. The city council's $12.1 million commitment, combined with other public and regional funding sources, underscores a multi-layered approach to supporting affordable housing production in the region.
The details
The Forest Edge project will be located at 2650 148th Ave SE on land owned by St. Andrew's Lutheran Church. In addition to the city's $12.1 million award, Imagine Housing has already raised $15.5 million from various public and regional funding sources, including $2 million from the state Housing Trust Fund, $1 million from the King County/City of Bellevue Connecting Housing to Infrastructure Program, and $500,000 from A Regional Coalition for Housing.
- The Forest Edge development is scheduled to begin construction in 2027.
- The city council's $12.1 million funding commitment was awarded on March 12, 2026.
The players
Imagine Housing
A nonprofit housing provider that is developing the Forest Edge affordable housing project.
Bellevue City Council
The local government body that awarded $12.1 million in funding to support the Forest Edge affordable housing development.
St. Andrew's Lutheran Church
The owner of the land where the Forest Edge affordable housing project will be located.
What’s next
The Forest Edge development is expected to break ground in 2027 after securing the necessary financing and approvals.
The takeaway
Bellevue's $12.1 million investment in the Forest Edge affordable housing project, combined with other public and regional funding sources, demonstrates a collaborative approach to addressing the need for more income-restricted rental units in the city's Lake Hills neighborhood and the broader region.
