The Village at Overlake Station, Redmond—TOD
The Overlake Park-and-Ride TOD project in Redmond was the first pilot project for King County’s Transit Oriented Development Section. It combines moderate-income rental housing, a day care facility, and a park-and-ride/transit center into a single integrated use. The first apartments opened to the public in December 2001, and the park-and-ride reopened in March 2002.
The Village at Overlake Station (external site) includes two levels of covered parking with 536 parking stalls and 308 rental housing units affordable to households earning 60 percent of the area’s median income ($35,000-$40,000 per year). The garage provides shared parking for use by both residents and park-and-ride commuters. The site continues to operate as a park-and-ride lot and a major transit facility in the King County Metro Transit system. Thirty of the housing units are barrier free and wheelchair accessible, and there is a 2,400-square-foot child care facility for residents and park-and-ride users.
This project is a joint development of King County, the King County Housing Authority, and a private developer using tax-exempt financing and federal housing tax credits. Subsidized bus passes are provided as an incentive to take the bus and help reduce automobile congestion in the region. Residents currently have .6 vehicles per unit, which indicates the success of linking transit with housing.
The development is in the heart of the Overlake commercial area of Redmond near 152nd Avenue NE and NE 24th Street. Overlake is a major employment center with about 600 firms, including Microsoft’s main campus, and 22,600 employees. Grocery stores, restaurants, personal services and major retailers are within a short walking distance.