The Village at Overlake Station (Redmond)
The Overlake Park-and-Ride TOD project in Redmond was the King County’s first transit oriented development pilot project. It combines moderate-income rental housing, a day care facility, and a park-and-ride/transit center. The first apartments opened to the public in December 2001, and the park-and-ride reopened in March 2002.
The Village at Overlake Station 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 and a major transit facility Metro’s 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 by 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 to residents as an incentive to take the bus and help reduce traffic congestion in the region. Residents currently have .6 vehicles per unit.
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.