Shovels hit dirt in Lynnwood on Tuesday as the Housing Authority of Snohomish County broke ground on The Bow Tie, a planned $90.1 million affordable housing development set to bring 124 homes to a site at 5710 200th St. S.W. The project splits into 60 units for seniors ages 55 and older and 64 units for families, with construction slated to begin this winter and wrap up in 2028.
The ceremony drew Gov. Bob Ferguson, who spoke alongside Cocoon House CEO and HASCO board member Joe Alonzo, according to My Edmonds News. Ferguson attended the event.
Watch Gov. Ferguson's Facebook post from the groundbreaking
Funding Stacked From Multiple Sources
Getting The Bow Tie to this stage required layering together a patchwork of public and private money. Per The Everett Herald, the project's $90.1 million price tag draws on $39.5 million from a bond issuance, $32 million in low-income housing tax credits, $6.5 million from the Amazon Housing Fund, and $6.1 million from Snohomish County, with roughly $5 million more coming from the state Housing Trust Fund and $1 million from the state commerce department.
The same outlet reports the development is rising on the former site of the Pinewood and Timberglen apartments. City records show the project cleared a key local hurdle earlier this year: the City of Lynnwood's Development & Business Services Director granted approval with conditions on June 8, 2026, for the 124-unit development, according to a City of Lynnwood notice of decision.
An Intergenerational Vision Years in the Making
The city had flagged the project's design intent months before shovels broke ground. A City of Lynnwood bulletin from February described HASCO's proposal for an intergenerational community at the 200th Street site that combines affordable housing for both families and seniors, with the senior component originally planned as 60 units inside a new four-story building.
The Bow Tie arrives amid a broader regional push to pair affordable housing with transit access. The Washington State Department of Commerce estimates the state needs more than 50,000 new housing units annually to keep up with population growth, with more than half of those needing to be affordable to residents at the lowest income levels, My Edmonds News reported in its coverage of the region's housing crunch. The outlet also noted that the most recent round of CHIP funding applications drew 83 requests totaling $87.6 million, even though only $31 million was available to award.
Not the Only Project in the Pipeline
The Bow Tie isn't the only large affordable project taking shape in south Snohomish County. Housing Hope is separately planning Alliance Place near Lynnwood City Center Station, a two-building project expected to total around 150 affordable units, the same My Edmonds News report found. A Sound Transit community development official cited in that reporting said nearly 3,000 of the close to 4,000 housing units built on Sound Transit property to date are affordable, underscoring how transit-adjacent sites have become a focal point for the region's affordable housing strategy.
For now, attention in Lynnwood turns to the winter construction timeline for The Bow Tie, with HASCO targeting a 2028 completion date for the 124 planned homes.
