Michelle S. Chen

Michelle Chen is an experienced real estate attorney and problem solver. She represents property owners, developers, investors, and lenders in sales and acquisitions, lending and financing, leasing, and a variety of other real estate matters. She advises clients on development and construction projects, including affordable housing projects that use Low-Income Housing Tax Credits, tax-exempt bond financing, state and local funding, and equity investment.

Before joining Stoel Rives, Michelle held several positions with the City of Seattle including general counsel with the Mayor’s Office, deputy city attorney in the City Attorney’s Office, and senior policy advisor with the Office of Planning Community Development. She was also a policy and program manager with the Seattle Housing Authority.

Education

University of Washington, J.D./Master of Public Administration, 2001

Bryn Mawr College, B.A., History and Political Science, 1994

Admissions

Washington

Languages

• Represented Low Income Housing Institute (LIHI) in the issuance of 501(c)3 tax exempt bonds for the acquisition and financing of an apartment building in Bellevue that will be used to provide 66 units of affordable housing
• Represented developer in the acquisition, preservation and renovation of affordable housing in rural Washington through private and public sources of funding, including Washington State Department of Commerce and USDA Rural Development loans
• Assisting in representing Vancouver Housing Authority in a LIHTC project and issuance of tax exempt bonds that will finance renovations and preserve 232 total units of affordable housing in two apartment buildings
• Assisted developer/borrower in several LIHTC financing transactions involving low-income housing projects
• Prepared real estate financing documents for transactions involving commercial and multifamily residential properties
• Drafted emergency order and memorandum of understanding with University of Washington to stand up Seattle’s first COVID-19 drive-through testing sites
• Developed legislation to amend the Seattle Land Use Code to implement inclusionary zoning program known as “Mandatory Housing Affordability.”
• Drafted and reviewed contracts, interlocal agreements, and participated in negotiations and review of documents to support low-income tax credit housing development projects.
• Negotiation of project development agreement among real estate investment trust company, development company and Seattle Public Utilities regarding the development of mixed-use retail and commercial space and residential apartments in Northgate urban center.
• Negotiation of property use and development agreement with the Pike Place Market Public Development Authority (PPMPDA) to provide a transfer of City-owned property and $35 million to PPMPDA for the construction of the first major expansion of Pike Place Market as part of the Seattle waterfront redevelopment.
• Negotiation and drafting of secured lending agreements involving mezzanine financing for property acquisition and residential development in seven western states for Fortune 500 company.
• Advised on entitlement process, zoning and feasibility analysis, other land use code issues.

Insights & Presentations

• Moderator, “Future of Seattle’s Waterfront and Downtown Seattle: Shaping Tomorrow’s Downtown and Breaking through Barriers,” Bisnow, March 19, 2024.

Civic

• Lakeside School, Board of Trustees, 2021–present
• Bellwether Housing, Board Member, 2021–present
• Leadership Tomorrow, Graduate, 2016