King County, Sound Transit Announce $83 Million for Transit Oriented Development

"Transit centers across the region could see a huge boost in affordable housing over the coming years. Under a new regional initiative, some 700 affordable workforce housing units could be developed on or near light rail stations," reports Stephen Fesler.

"King County Executive and Sound Transit Board Chair Dow Constantine revealed the $83 million plan yesterday. A central goal of the initiative is to create walkable and economically diverse communities around light rail stations."

The press release announcing the Executive's Transit Station Housing and Development Initiative, linked above, lists three potential sources of funding for the initiative, including $45 million over six years from King County Housing Bonds, $18 million from the Regional Equitable Development Initiative, and $20 million over four years if the Sound Transit 3 transit funding initiative is approved, if and when it appears before voters.