High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Seattle & Northwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
Seattle & Northwest  + Finance  | 

Microsoft, King County Join Forces to Fight Housing Crisis

Microsoft Corp., King County Housing Authority (KCHA) and King County made a combined $245 million investment to protect 1,029 units of affordable rental housing throughout King County. The partnership comes in the form of a 15-year, $60 million loan from Microsoft to KCHA, combined with $20 million in low-interest debt and additional credit enhancements provided by King County, and $140 million in bonds issued by KCHA.

It will help finance KCHA’s acquisition of five residential apartment complexes, ensuring rents will remain affordable long term and allowing over 3,000 low- and middle-income people to remain in their communities. The complexes include Kendall Ridge in Bellevue; Emerson, Juanita View and Kirkland Heights in Kirkland; and Riverstone in Federal Way (pictured).

This investment marks a significant milestone for Microsoft’s $500 million commitment to advance affordable housing solutions in the Puget Sound region. Local studies estimate King County has lost at least 36,000 affordable rental units in the last decade, as rents increased by 43%.

For comments, questions or concerns, please contact Dennis Kaiser

Read More News Stories About: Microsoft
Connect

Inside The Story

Connect With Microsoft Philanthropies’ Jane Broom

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action