Dec. 23, 2025 — Redmond, WA The National League of Cities highlighted the Prisma project, a six-story mixed-use development featuring 328 affordable housing units adjacent to Sound Transit’s Overlake Village Station in the Overlake neighborhood.
The initiative, led by the City of Redmond, Sound Transit, nonprofit developer Bellwether Housing, King County, Amazon Housing Equity Fund, Washington State Housing Finance Commission, and A Regional Coalition for Housing (ARCH), targets households at or below 50% area median income (AMI), with about 55 units reserved for those at 30% AMI, including 10 for residents with disabilities.
The project includes family-sized two- and three-bedroom units and ground-floor retail and community spaces, secured by a 50-year affordability covenant. Funding stacks multiple sources, including Sound Transit’s surplus land valued at approximately $30 million, sold for $250,000, over $5 million in gap financing from King County, nearly $3 million from Redmond, plus fee waivers, low-income housing tax credits, and more.
“Prisma aims to meet this opportunity and responsibility and become a national model for equitable transit-oriented development (TOD).”
Groundbreaking is planned for early 2026, with homes ready by early 2028, according to the NLC article. Bellwether Housing details 328 units ranging from studios to three-bedrooms for 30-80% AMI households, with amenities like resident courtyards and services from Hopelink.
Sound Transit describes Prisma as providing 505 bedrooms across unit types, with ground-floor commercial space for retail and community organizations. The City of Redmond republished the NLC story via a civic alert and committed additional funding for commercial space in a September 2025 legislative memo.
The NLC promoted the project on Facebook and LinkedIn, calling it a model for equitable TOD. King County lists it as a 332-unit project with 72 two-bedroom and 53 three-bedroom units.
