heatherwood

What heatherwood does

Heatherwood is an affordable garden-style apartment community located at 13510 North Creek Drive in Mill Creek, Washington, serving income-qualified individuals and families in the Snohomish County area. The property participates in the Washington State Housing Finance Commission affordable housing program, restricting tenancy to households earning at or below 60% of HUD's Area Median Income (with income limits ranging from $69,060 for one-person households to $146,040 for ten-person households). It offers four floor plans ranging from a 767-square-foot one-bedroom unit starting at $1,678/month to a 1,274-square-foot four-bedroom unit starting at $2,618/month, plus ancillary fees for pets, optional in-unit washer/dryer, and detached garages.

The property is managed by HNN Communities, a private property management organization that operates Heatherwood alongside eight sister communities across Snohomish County. Operational technology is built on the RentCafe (Yardi Systems) platform for online leasing, rent payment, and maintenance requests, augmented by AmenityPass for amenity reservations, Smart Decal (Parking Attendant) for parking enforcement, and PayNearMe to enable cash rent payments at 7-Eleven, Walmart, and Ace Cash Express locations. Community amenities include a Technogym-equipped fitness center, outdoor pool and spa, indoor sports court, playground, business center with Wi-Fi, media room, and 24/7 Amazon Hub package lockers. The property holds ADA accessibility compliance for apartment homes and adheres to WCAG 2.1 AA website accessibility standards.

Revenue is generated almost exclusively through recurring monthly residential rent, supplemented by pet rent ($20/month per pet), a one-time pet fee ($250), optional in-unit washer/dryer fees ($50/month), and detached garage charges. Distribution is direct-to-consumer via the property website, online listing platforms, virtual tours, and an on-site leasing office with extended weekday/Saturday hours, with supplemental leads sourced from sister-property referrals within the HNN Communities portfolio. Leasing is self-service through the RentCafe portal, with qualification enforced by the 2.0x monthly rent income floor and the 60% AMI ceiling, subject to annual recertification under the affordable program.

Name

heatherwood

Legal name

HNN Communities

Website

https://www.heatherwoodwa.com

Company type

Private

Founded year

2005

Operating status

Operating

Short description

Heatherwood is a 200-unit-class affordable garden-style apartment community in Mill Creek, WA, managed by HNN Communities, offering 1–4 bedroom rentals under a Washington State Housing Finance Commission program restricted to households at or below 60% AMI.

Ownership category

akta.pro rank

Product category

Affordable Residential Apartments

NAICS

Rooming and Boarding Houses, Dormitories, and Workers' Camps (72131)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

Keywords

• Affordable housing
• Apartment rentals
• Residential property management
• Multifamily housing
• Income-qualified apartments

Headquarters

HQ city

Mill Creek

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Monthly Residential Rent: Primary revenue stream from monthly apartment rentals. Residents pay rent monthly based on unit size (1-4 bedrooms) ranging from $1,678 to $2,618 per month. Additional charges may include pet rent ($20/month per pet), optional in-unit washer/dryer ($50/month), and detached garage fees. The community participates in an affordable housing program with income restrictions (60% AMI limits), and rents for affordable units are set using HUD Area Median Income limits.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Heatherwood operates an affordable apartment community in Mill Creek, WA offering 1- to 4-bedroom garden-style rental homes under the Washington State Housing Finance Commission affordable housing program. Units range from 767 to 1,274 square feet with rents set using HUD 60% Area Median Income (AMI) limits and are leased to income-qualified households (minimum 2.0x monthly rent income and below 60% AMI). The community provides standard apartment features (Energy Star appliances, quartz countertops, vinyl plank flooring) plus shared amenities (fitness center, pool, sports court, business center) under on-site professional management.

Product overview

Heatherwood is an affordable apartment community in Mill Creek, WA that operates as a single-property housing community participating in a Washington State Housing Finance Commission affordable housing program. The community offers four distinct floor plan products: 1 Bedroom (767 sq. ft.), 2 Bedroom (1,084 sq. ft.), 3 Bedroom (1,232 sq. ft.), and 4 Bedroom (1,274 sq. ft.) apartments. All units include standard apartment features (fully equipped kitchen with Energy Star appliances, modern vinyl plank flooring, high-speed internet readiness), and residents have access to shared community amenities including a fitness center, pool, sports court, and business center. Income restrictions apply (households must earn at least 2.0 times monthly rent and be below 60% AMI limits).

Differentiator

Problem solved

Functional benefit

Products and services

• 1 Bedroom, 1 Bath Apartment
• 2 Bedroom, 2 Bath Apartment
• 3 Bedroom, 2 Bath Apartment
• 4 Bedroom, 2 Bath Apartment

Quantifiable outcome

• Maximum 2 pets allowed per apartment home with $250 fee and $20/month pet rent
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• HNN Communities (Parent Company)coreOthersHNN Communities is the parent company/management organization overseeing Heatherwood and multiple sister properties in the Snohomish County area. The company manages a portfolio of affordable and market-rate apartment communities including Puget Park, Gateway, Mill Pointe, Madison Way, Axis, Willow Tree Grove, The District, and Scriber Creek.
• Yardi Systems (RentCafe)coreTechnology or IntegrationRentCafe platform powered by Yardi Systems provides the technology infrastructure for online leasing, resident portal, rent payment processing, maintenance requests, and property management. The platform enables self-service capabilities for residents including online rent payments with no convenience fee for bank account payments, 2.2% processing fee for credit/debit cards.
• Puget ParkminorOthersSister property at 13004 Meridian Avenue S., Everett, WA 98208. 1-4 bedroom apartments ranging from 816-1,432 sq ft. Starting at $1,972-$2,025/month.
• Gateway ApartmentsminorOthersSister property at 13105 21st Drive SE, Everett, WA 98208. 2-5 bedroom apartments ranging from 1,070-1,668 sq ft. Starting at $1,899/month with 1/2 month free promotion.
• Mill PointeminorOthersSister property at 3111 132nd Street SE, Everett, WA 98208. 1-3 bedroom affordable apartments ranging from 754-1,188 sq ft. Starting at $1,899-$2,200/month.
• Madison WayminorOthersSister property at 14615 Madison Way, Lynnwood, WA 98087. 1-5 bedroom apartments ranging from 860-1,643 sq ft. Starting at $1,999-$2,100/month.
• Axis ApartmentsminorOthersSister property at 12118 Hwy 99, Everett, WA 98204. Apartments ranging from 704-1,531 sq ft. Starting at $1,575-$2,827/month.
• Willow Tree GroveminorOthersSister property at 2129 Maltby Road, Bothell, WA 98021. 2-4 bedroom apartments ranging from 1,057-1,543 sq ft. Starting at $1,925-$2,295/month.
• The DistrictminorOthersSister property at 17716 Bothell-Everett Hwy, Bothell, WA 98012. Apartments ranging from 652-1,446 sq ft. Starting at $1,999-$2,662/month.
• Scriber Creek ApartmentsminorOthersSister property at 20921 44th Ave W, Lynnwood, WA 98036. Apartments ranging from 703-1,641 sq ft. Starting at $1,582-$2,443/month.

Scale indicators3 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• HNN Communities: Parent management company that directly operates Heatherwood alongside eight-plus sister affordable and market-rate communities in Snohomish County (Puget Park, Mill Pointe, Madison Way, Axis, Willow Tree Grove, The District, Scriber Creek, Gateway). Same operating model, same regulatory programs, same regional labor market, and identical Yardi/RentCafe technology stack.

Broad incumbents

• Essex Property Trust: West Coast-focused multifamily REIT with a dense portfolio across the Seattle, San Francisco, and Los Angeles metros. Comparable by product type (garden-style apartments) and overlapping Pacific Northwest geography, though Essex operates primarily market-rate communities at significantly larger scale.
• Greystar Real Estate Partners: Largest US multifamily property manager and operator with a national portfolio including the Pacific Northwest. Provides the closest broad-market benchmark for property management scale, Yardi-based operations, and amenity-driven operating standards relevant to Heatherwood.
• Equity Residential: National apartment REIT with a meaningful Seattle and Pacific Northwest footprint. Comparable in product category (multifamily garden-style and mid-rise apartments) but at materially larger scale and a market-rate orientation.
• AvalonBay Communities: National apartment REIT operating garden-style and high-density communities, including West Coast markets. Comparable operating playbook (Yardi-based leasing, amenity-rich positioning) but with significantly greater scale and a market-rate focus.
• Camden Property Trust: National multifamily REIT with a comparable garden-style apartment focus and similar technology-enabled resident experience model. Overlaps with Heatherwood in unit-mix philosophy (1-4 bedroom family-sized units) though operates at a much larger scale.
• UDR Inc. Diversified apartment REIT with West Coast and national exposure. Comparable in operating approach to multifamily communities with amenity packages, though at scale and market-rate positioning far above Heatherwood's affordable niche.
• The Related Companies: Large national developer and operator with a substantial affordable housing division alongside market-rate and mixed-income properties. Closest broad incumbent to Heatherwood in that it actively operates within the affordable/LIHTC program universe, providing a relevant comp for affordable housing operating economics.

Regional players

• BRIDGE Housing: Mission-driven affordable housing developer and operator headquartered in the San Francisco Bay Area with a growing Pacific Northwest portfolio. Direct overlap with Heatherwood in income-restricted multifamily operations and regulatory program participation within the broader PNW/West Coast region.

Others

• Mercy Housing: National nonprofit affordable housing provider operating LIHTC and income-restricted multifamily communities across the West Coast and nationwide. Comparable to Heatherwood in regulatory program exposure and income-qualified tenant base, though operates as a mission-driven nonprofit rather than a for-profit operator.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about heatherwood