City of Seattle Allocates $147M to Affordable Housing Projects
Seattle Mayor Bruce Harrell recently announced the city’s yearly funding awards for affordable housing providers, totaling $147 million for the construction and preservation of 1,150 affordable homes in neighborhoods across Seattle.
The investments will include the construction of 1,088 new homes in 11 new buildings, offering a range of housing types for low-income residents, including permanent supportive housing for those experiencing homelessness, apartments for low-income individuals and families, and homes for first-time homebuyers. They also include preservation of one building in Belltown, allowing 62 homes to remain affordable in the neighborhood.
In addition to the funding for rental housing, the Office of Housing’s 2022 investments also include a commitment for three affordable homeownership projects.
Funding for affordable housing provided through Seattle’s Office of Housing comes from initiatives like the 2016 Seattle Housing Levy and JumpStart Payroll Expense Tax, as well as programs like Mandatory Housing Affordability.