LYNNWOOD, WASH. — Kōz Development and MSquared have opened Kōz on Alderwood Mall Blvd, a mixed-income, transit-oriented apartment community at 4301 Alderwood Mall Blvd. in Lynnwood. The $54 million project is located adjacent to the recently opened Lynnwood Transit Center, the northern terminus of the Sound Transit Link rail extension connecting Lynnwood to downtown Seattle.
Kōz on Alderwood offers 199 studio, one-bedroom and two-bedroom apartments. Half of the homes are affordable for households earning up to 80 percent of the area median income and the other half are market-rate units.
Developed by Kōz Development, the project was financed with $35 million in debt from Coastal Community Bank, $13 million in equity from MSquared and $6 million in equity from Kōz Development investors. Kirtley Cole led construction of the community.