KING 5: Seattle invests $108 million to build hundreds of affordable homes across the city
Quixem Ramirez, KING 5
SEATTLE — Mayor Bruce Harrell announced over $100 million in funding on Thursday earmarked to create hundreds of affordable rental homes throughout Seattle.
The $108 million investment in affordable housing is the first full allocation of funds after Seattle's approved 2023 housing levy, according to a release. Homeowners will be paying $970 million over seven years as part of the city's housing levy.
Harrell said Thursday the approved funds will support the construction of 655 new affordable homes in Seattle.
“Today’s investment in affordable housing reflects our shared commitment to building a more affordable and equitable city. By leveraging the voter-approved Housing Levy and working together with our community partners, we are creating affordable homes that will serve generations of Seattle residents,” Harrell said in a release. “This is how we advance our One Seattle vision and ensure that everyone, regardless of income, has a place to call home in our growing and thriving city.”
City officials are planning to use the $108 million investment for affordable homes in the Capitol Hill, First Hill, Greenwood, Belltown, Chinatown-International District, Central District and Lower Queen Anne neighborhoods.
In 2024, city officials said 655 affordable homes with a total of 867 bedrooms were created in Seattle.
This push for affordable housing comes as King County Executive Dow Constantine announced another $26 million to help fund 939 affordable homes throughout King County over the next five years.
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