Poulsbo City Council supports affordable housing grant for Hostmark apartment renovations

The Poulsbo City Council meeting on June 11, 2025, highlighted a significant initiative aimed at enhancing affordable housing in the community. The council discussed a proposed multimillion-dollar renovation project for the Hostmark Apartments, a vital affordable housing complex that serves adults with disabilities and seniors aged 62 and older.

Kim Hendrickson, a representative from Related Affordable, presented the plan, emphasizing the importance of the Hostmark Apartments, which houses 120 units. The property is currently under a sale agreement, and Related Affordable is seeking support for a grant application to secure funding for the renovations. This initiative is crucial not only for improving living conditions but also for preserving the affordability of the apartments for at least the next decade.

Hendrickson praised Related Affordable, part of a larger real estate firm, for its commitment to maintaining affordable housing. The company has a strong track record, having never converted affordable units to market rate, which is a significant point of pride for them.

Council members expressed their support for the project, recognizing the positive impact it would have on the community. They agreed that while no formal letter of support is required for the grant application, it is essential for Related Affordable to reference the city’s backing in their narrative.

As the council moves forward, the anticipated renovations promise to enhance the quality of life for many residents in Poulsbo, reinforcing the city’s commitment to affordable housing solutions.