Washington state awards $131M for affordable housing projects
The Washington state Department of Commerce has announced grants and loans totaling $131 million that will support 40 affordable housing projects, including several in the Puget Sound area.
The money will support the acquisition and development of over a half of a billion dollars of housing development.
Funding will be allocated from the Traditional Housing Trust Fund (HTF) and the HTF Rapid Capital Housing Acquisition program. The Traditional HTF money will go to 20 multifamily projects totaling 1,281 units and 10 homeownership projects to build or support 166 homes for people with low incomes. The HTF Rapid Capital Housing program will fund 10 projects with a total of 487 new emergency or transitional shelter units.
Of the units preserved or developed, 467 will be affordable housing in rural areas, 1,000 for those currently experiencing homelessness, 700 for those with chronic mental illness and in need of permanent supportive housing and 800 for those whose income is below 30% of their area median income.
https://www.bizjournals.com/seattle/news/2021/12/28/state-grants-affordable-housing.html