WASHINGTON: Frolic

Frolic

Seattle, WA

Seattle-based Frolic works with owners to design and permit multi-family projects for much less upfront capital than would be required otherwise, creating affordable homes and community-oriented high density. The homes can be purchased with down payments of $5000 – $20,000 (average down payments on Seattle are about $100,000), and monthly payments are at or below market rent, enabling families who have been renting for generations (known as “generational renters”) to buy a home and build wealth. The model was conceived by former MIT students Tamara Knox, now Frolic’s CEO, and Josh Morrison, now Frolic’s CCO (Chief Creative Officer), and designed with help from over 180 experts in housing, policy, and finance.