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Bellevue Chamber News & Happenings: Members Making News

Bellevue College

Wednesday, March 6, 2019   (0 Comments)
Posted by: Ashley Clemmer
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Contacts:
Bellevue College: Nicole Beattie, Associate Director of Communications
Phone: 425.564.2486  Email: nicole.beattie@bellevuecollege.edu

Landed: Ian Magruder, Partnerships
Phone: 831.421.1808  Email: ian@landed.com

Bellevue College Becomes First Higher Education Institution to Launch Landed
Innovative Housing Program Already Helping K-12 School Employees Buy Homes

BELLEVUE, Wash. – Today, Bellevue College announced it has become the first institution of higher education to launch with Landed, a down payment assistance and financial wellness program aimed at helping educators and school employees afford to buy homes.

The program provides half of the down payment on a home, up to $120,000 per family, in exchange for a portion of the change in the value of the home when the home is sold. Any gains from this assistance are re-invested to support an ever-growing number of educators and essential professionals. Landed’s down payment support will be available to all full-time faculty, staff, and administrators who have worked for Bellevue College for at least two years.

“The cost of living in the greater Seattle area is a challenge for our faculty and staff. Too many are unable to afford the down payment on a home close to where they work,” said Bellevue College President Jerry Weber. “We’re encouraged by the early success that Landed is already having for the Bellevue School District. Our hope is that this program will make homeownership more accessible to our employees.”

In October 2018, Bellevue School District (BSD) became the first Seattle area school district to launch Landed. Since then, more than 100 BSD employees have been engaged in receiving home buying or financial wellness resources and three BSD employees have already successfully closed on homes.

“Allie and Brian were overjoyed to make their dream of homeownership a reality over the holidays,” said Matt McGaffey, a Bellevue College alumnus and the Landed partner realtor who helped the first BSD family purchase a home. “I’m thrilled that Landed is expanding to my alma mater and supporting the same college faculty and staff who helped change my life.”

Since its founding in 2015, Landed has helped nearly 200 K-12 public educators purchase homes in the San Francisco Bay Area, Los Angeles, Denver and Seattle. The partnership with Bellevue College is Landed’s first expansion into public colleges and universities.

“Growing up in Bellevue, I’ve seen the dramatic change in affordability in the community and the need for new solutions to help educators and essential professionals be able to afford to build financial security,” said Landed co-founder, Alex Lofton. Lofton attended public schools in Bellevue, and his mother is a retired BSD veteran teacher and alumna of the district herself. “We founded Landed to help improve financial security not only for educators, but for all essential professionals struggling to afford to live in expensive communities, and expanding from K-12 to higher education is an important milestone in realizing this vision,” Lofton added.

Interested employees can apply for Landed support beginning Wednesday, March 6, at landed.com/signup.

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PHOTOS: Alex Lofton and Ian Magruder of Landed; Realtor Matt McGaffey, his wife Lisa and their two daughters

Bellevue College President Jerry Weber, Landed Co-Founder Alex Lofton, Bellevue College alumnus and Landed real estate agent Matt McGaffey, and successful Landed homebuyers from Bellevue School District are all available for TV, radio, and print interviews on campus or remotely.

Media are invited to attend one of the information sessions for Bellevue College faculty and staff to learn more about the program (not open to the general public) on Monday, March 18 in Building N, room 201. Contact Nicole Beattie (nicole.beattie@bellevuecollege.edu) for a parking pass and campus map.

Monday, March 18
Session 1: 10:30 – 11:30 a.m.
Session 2: 5 - 6 p.m.

About Bellevue College: With an annual average enrollment of over 32,000, Bellevue College is one of the largest educational institutions in Washington State. BC offers associate degree programs covering the first two years of a college education as well as four-year bachelor’s degrees, certificates and continuing education programs in nearly 100 professional and technical fields, such as information technology, telecommunications, business, education, health and public safety. Visit and learn more at www.bellevuecollege.edu

About Landed: Landed is a San Francisco-based company helping essential professionals build financial security near the communities they serve. Landed partners with public colleges, school districts, and community organizations to provide down payment support to educators. (landed.com).


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