Seattle Funds Affordable Housing

Seattle Mayor Ed Murray has led Seattle in committing $22 million to develop and preserve affordable housing in the city.  The money will be loaned to housing developers in long-term plans to build and keep apartments available to low-income residents. 

Murray said the plans will help support the city’s focus on reducing homelessness and help all families in the area.  The city will work with non-profit organizations to meet their goals.  There are 5 development areas that will benefit from the funding.  They include Mercy Othello Plaza by the Othello light rail station; 7th and Cherry; University Commons; Lyon Building; and the Aloha Inn.  Most site also have other services available, or designated apartment sizes or populations. 

Seattle says 363 new homes will be built, and many homes will be remain affordable to those in need.  The Seattle Housing Levy will provide $14.4 million, and other funds will come from the Incentive Zoning Program, and federal and city sources.  The project’s efforts are being led by the Seattle Office of Housing, providing support to low-income residents across Seattle.