A new levy and a new housing bond enabled new levels of spending on affordable housing in Seattle.
New Seattle Mayor Jenny Durkan recently announced $100 million in affordable housing investment around the city of Seattle. "The $100 million more than doubled last year’s Seattle Office of Housing budget, which tallied $47 million," reports Doug Trumm. "Seattle passing a doubled housing levy and the Seattle City Council approving $29 million in bonding for affordable housing explains much of the jump in funding."
The $100 million "will fund 896 new homes in nine new buildings around Seattle, preserve 535 existing units, and support low-income first-time homebuyers through two developments totaling 26 homes via Habitat for Humanity and the Homestead Community Land Trust," adds Trumm. The article includes analysis of the geographic breakdown of the investments as well as specifics on a few projects.
FULL STORY: Seattle Office of Housing Announces $100 Million Investment
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