Mountlake Terrace is about to get nearly 120 new affordable homes

Sage Investment Group has purchased the Studio 6 hotel on Van Ry Boulevard in Mountlake Terrace, intending to convert it into affordable studio apartments. Located just blocks from a light rail station and an upcoming Grocery Outlet, the site is strategically positioned for accessibility. The redevelopment will feature 119 studio apartments, each with a kitchen and bathroom, along with shared amenities such as laundry facilities, a fitness room, and community space. The project aims to provide affordable housing options in response to increasing demand in the area. If all goes according to plan, the apartments could be ready for new residents next year.

This initiative reflects a growing trend among developers to repurpose existing structures for housing solutions. Local officials have voiced their support, emphasizing the significance of affordable housing in the community. The conversion of the hotel not only addresses housing shortages but also revitalizes the neighborhood.