Coastal Community Bank Invests in Workforce Housing Through Koz Development's PNW Attainable Workforce Housing Fund
EVERETT, Wash., Oct. 09, 2026 (GLOBE NEWSWIRE) -- Coastal Community Bank (the “Bank”, “Coastal”, “our”) announced its participation in Koz Development's PNW Attainable Workforce Housing Fund, a community development investment focused on expanding high-quality, environmentally responsible housing for working individuals and families across the Pacific Northwest.
Koz Development's PNW Attainable Workforce Housing Fund (“Fund”) was established to provide equity financing for attainable and workforce housing in growing communities throughout Washington and Oregon. The Fund focuses on well-located housing near employment centers, educational institutions, transportation, and essential services — places where working households can remain connected to the communities in which they live and work.
The Fund is designed to serve households that are often caught in the housing affordability gap: people who may earn too much to qualify for traditional housing assistance but still face significant challenges affording quality market-rate housing. By pairing disciplined multifamily development with mission-aligned capital, the Fund seeks to expand housing choice for this workforce or “missing middle” while supporting resilient local economies and employers.
In Washington, Coastal's investment will also provide equity for Koz developments participating in Ballmer Group's Washington Family Housing Fund, a philanthropic partnership with the Washington State Housing Finance Commission created to accelerate the production of affordable rental homes for families.
In announcing the investment, Coastal Community Bank said, “Across the Pacific Northwest, many working individuals and families are finding it increasingly difficult to live in the communities where they work. Workforce housing is essential to sustaining a healthy local economy, supporting employers, and ensuring that communities remain accessible and inclusive. This investment reflects our commitment to helping address one of the most significant challenges facing our region.”
“At Koz, we take tremendous pride in delivering housing that makes a meaningful difference in people's lives,” said Cathy Reines, Founder and CEO of Koz Development. “Our residents are the people who keep our communities running — teachers, health care workers, public employees, service professionals, and working families. Creating high-quality, attainable homes for this missing middle is more than a development strategy; it is central to why we do this work. Partners like Coastal allow us to expand that impact.”
Coastal's participation reflects a growing recognition that the region's housing shortage requires multiple forms of capital working together. Investments in workforce and family housing can create long-term community value by supporting housing stability, access to employment and education, and the ability of communities to retain the people who make them function every day.
About Coastal Financial
Coastal Financial Corporation (Nasdaq: CCB) (the “Company”), is an Everett, Washington based bank holding company whose wholly owned subsidiaries are Coastal Community Bank (“Bank”) and Arlington Olympic LLC. The $5.46 billion Bank provides service through 14 full-service branches in Snohomish, Island and King Counties, one loan production office in King County, the Internet and its mobile banking application. The Bank provides banking as a service to digital financial service providers, companies and brands that want to provide financial services to their customers through the Bank's CCBX segment. To learn more about the Company visit www.coastalbank.com.
Contact
Chris D. Adams, Executive Chair of Coastal Financial Corporation, cadams@coastalbank.com
Eric Sprink, Chief Executive Officer, esprink@coastalbank.com
Joel G. Edwards, Chief Financial Officer, jedwards@coastalbank.com
Forward-Looking Statements
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