City leaders and community activists saw the need for affordable housing in the City of Snohomish in the early 1990’s. They set a goal of constructing 100 units without the help of typical government subsidies such as HUD grants or Section 8 funding. They felt that they could develop affordable housing more efficiently and at considerably lower cost without the rules and restrictions related to government subsidies. The first 18 units were completed in 1994 and the original goal was achieved in 2009 with the completion of the last 21 unit project making a total of 103 units. Today the nonprofit SAHG is able to keep the rents below 60% of market and still have all operating costs covered including loan payments and reserves.
Original news report: Founding history