EIHF, Inland Group, Microsoft to Bring Affordable Housing Project to Kirkland

Evergreen Impact Housing Fund (EIHF), developer Inland Group, and Microsoft have fully financed Polaris at Totem Lake, an affordable housing development in Kirkland, Washington. Polaris will create more than 440 apartments that are affordable to people with different levels of income and is slated for completion in 2026.

Microsoft is providing support for various stages of the Polaris project through several programs: land acquisition through the Washington State Housing and Finance Commission (WSHFC), direct construction financing, and permanent financing through EIHF.

This is the second collaboration between EIHF and Inland Group, whose portfolio includes 17 affordable apartment home communities across the western United States. WSHFC coordinated the resources for the Polaris project, including the allocation of bond cap and tax credits. WSHFC administers the Expanded Land Acquisition Program, a collaboration between the Commission and Microsoft that enables developers to purchase land and real property for affordable rental housing or single-family homes.