Astra and Solera Apartments Open: A Milestone in Affordable Housing Development in Renton

Opening of Astra and Solera Apartments in Renton Highlands

On June 23, 2025, the Evergreen Impact Housing Fund (EIHF) announced the grand opening of the Astra and Solera apartments in Renton Highlands, Washington. This significant development consists of 275 affordable housing units and 315 market-rate apartments, marking a vital advancement in addressing the affordable housing crisis in the region.

Located at 2950 NE 11th St, these new apartments symbolize a collaborative effort to provide quality living spaces for families in Renton. Ken Takahashi, director of impact investing and EIHF fund manager at Seattle Foundation, expressed his excitement: "We're thrilled that the Astra apartments are open to working families in Renton. Washington State's affordable housing problem isn't going away. We need innovative financing that works to address this crisis."

The EIHF contributed $11 million in philanthropic capital towards the construction of these affordable units. This project stands out as EIHF’s largest initiative yet and its fourth project completed in less than two years. The funding for the development blends public financing from the Washington State Housing Finance Commission with private capital from a consortium of five local credit unions: BECU, Salal Credit Union, Sound Credit Union, Verity Credit Union, and WSECU.

Previously, these credit unions collaborated on the 256-unit Copper Way apartments in Spanaway, further underscoring their commitment to enhancing affordable housing in Washington State. The joint statement from the credit unions highlighted their ongoing dedication, stating, "The Astra project is proof that what we've captured in previous EIHF projects isn't lightning in a bottle—it's the result of dedicated efforts from community organizations determined to address our region's housing challenges."

The Astra apartments feature a diverse array of one to four-bedroom units designed to cater to the needs of working individuals and families. Residents will enjoy the convenience of being situated close to Renton’s urban center, with easy access to public transit, local grocery stores, and Sunset Neighborhood Park. The developer, DevCo, has ensured these apartments come equipped with quality amenities to serve both current and future residents.

Jack Hunden, CEO and Founder of DevCo Residential Group, expressed optimism about the project's impact on the local community: "We're delighted to present Solera and Astra—two exciting projects that we hope will contribute to the long-term success of the Renton Highlands neighborhood and help the city provide quality housing options for residents who want to live closer to where they work."

To celebrate the opening and foster community connections, DevCo hosted a block party on June 21, featuring local vendors, including Comcast and the Renton Highlands Library. The event attracted local residents and included speakers such as Mayor Renton Armondo Provone, alongside representatives from EIHF, credit unions, and DevCo.

The importance of this initiative cannot be overstated in a landscape where affordable housing continues to be a pressing concern for many families. As the Astra apartments begin accepting resident applications, the project stands as a beacon of hope and a testament to what can be achieved when various stakeholders come together for a common cause.

About DevCo Residential Group

DevCo Residential Group is a leading development, investment, and property management company with a focus on multi-family communities. Founded in 1994, the company manages over 10,000 affordable and market-rate apartment units across the United States, emphasizing long-term value and community stability.

About Evergreen Impact Housing Fund (EIHF)

Managed by the Seattle Foundation, EIHF is a multi-sector partnership aimed at providing impactful capital for the development of affordable apartments in Washington State. The fund is committed to enhancing financial feasibility for key housing projects and advancing positive outcomes for working families, particularly within communities of color.