What It Really Takes to Build Affordable Housing: Teanaway Court Funding Comes Together
HopeSource breaks down the process behind developing affordable housing in a new series of articles, starting with funding.
Affordable housing doesn’t happen overnight, and it rarely happens with a single funding source. Behind every project is a funding package: a carefully assembled mix of federal, state, local, private, and philanthropic dollars. Each piece comes with its own requirements, approvals, and timelines.
HopeSource’s Teanaway Court development in Upper Kittitas County offers a real-time case study of how this complex process works. The project, which will include income-restricted housing, a child development center, and community service space, has just cleared a major milestone: it is now fully funded.
“People see a building go up and assume that’s when the work begins,” said Bill Hinkle, Director of Affordable Housing at HopeSource. “But most of the work happens long before construction. Securing the funding package is the hardest and most time-consuming part.”
Understanding the Funding Package
Unlike market-rate developments, affordable housing can't move forward with a single loan or investor. It takes years to secure multiple funding sources, each one with its own strings attached.
The Teanaway Court funding package includes:
$5 million from the Washington State Housing Trust Fund
$2.03 million in federal appropriations, secured by Senator Patty Murray and Representative Kim Schrier
$750,000 from the Kittitas County Board of Commissioners
Support from private and nonprofit partners
$7.8 million in the 2025 Washington State Capital Budget to close the gap
“Finalizing the funding package is a huge milestone, but it’s not the finish line,” said Bill Hinkle, Director of Affordable Housing at HopeSource. “We are committed to sharing each step in the process, allowing our community to see what it really takes to build housing people can afford.”
Why Construction Comes Last
In affordable housing, all funding must be secured before construction begins. This protects public funds and ensures long-term project viability, but it also slows down the timeline. Once the funding package is complete, developers then must navigate environmental review, permitting, and regulatory approvals before ever breaking ground.
For Teanaway Court, that means entering the environmental review phase under the National Environmental Policy Act (NEPA). Local permitting will follow. “This is the part that’s invisible to most people but it’s where affordable housing lives or dies,” said Hinkle. “We’re committed to seeing the project through to conclusion.”
Whole Person Care in Action
Teanaway Court reflects HopeSource’s broader vision for Whole Person Care, housing, childcare, and access to essential services all in one place. It’s designed to help families move from crisis to stability with the support they need to thrive.