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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

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
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