CITY OF RENTON WASHINGTON

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Tuesday, August 31, 2021

Number 5

Helping kick off construction of the Solera Project are (left to right) Councilmember Ruth Pérez; David Ratliff, president of DevCo LLC; Jack Hunden, founder of DevCo LLC; Mayor Armondo Pavone; Councilmember Angelina Benedetti; and Charles Seil, Planning Commission Vice-Chair.

Solera is cornerstone of revitalized Sunset area

Earlier today, I joined with members of Renton City Council and executives of DevCo for the official groundbreaking of the Solera project on the Greater Hi-Lands Shopping Center site.

Solera is the cornerstone of our ongoing redevelopment of the Sunset area. Its high-quality design will add value and character to the community.

When complete, we will have 686 new residential units: 275 will provide affordable housing, 315 will be market-rate, and 96 will be townhome ownership.

Also included in this project is approximately 39,000 sq. ft. of retail space and more than 1,000 parking spots.

The Solera project is a crucial component of the Sunset Area Community Investment Strategy. Once complete, this project will bring together all four elements of a complete community:

1. High-quality, market-rate apartments

2. Affordable housing

3. Homeownership opportunities

4. Commercial space and amenities, including a childcare facility

The Solera project extends the city’s existing street network, providing pedestrian and vehicle connections throughout the Sunset area to existing and new projects like Sunset Neighborhood Park, Renton Highlands Library, and the Sunset Neighborhood Center.

Solera will add 275 affordable housing units, 315 market-rate units, and 96 townhomes. The project will also include approximately 39,000 sq. ft of retail and more than 1,000 parking spaces.

This project is supported by robust private and public funding, including the Evergreen Impact Housing Fund (EIHF). EIHF is a critical funding source that helps finance affordable housing projects in collaboration with the Seattle Foundation and five area credit unions. Solera is EIHF’s first project.

I want to thank Jack Hunden, CEO and founder of DevCo, and his team for their commitment to build an essential part of Renton’s future. Both the city and DevCo are looking forward to bringing this unique project to our community.