Requests exceed available funding from state and federal sources to create needed affordable housing, including units serving residents with disabilities, seniors, veterans, families and more.
OLYMPIA, WA — The Washington State Department of Commerce today announced 27 state and federal funding awards that will help finance affordable housing construction and rehabilitation in 12 counties across Washington, resulting in 1,282 units of new affordable housing. These awards will supplement funding from sources such as cities, counties, traditional bank loans, and low-income housing tax credits (LIHTCs).
“The Washington Legislature made a historic investment in the Housing Trust Fund in the 2023-2025 Capital Budget that is growing the capacity of our housing partners ready to deliver thousands of new affordable housing units across every region of the state,” said Commerce Director Joe Nguyễn. “Housing affordability and availability, especially for some of our most vulnerable communities, is an ongoing challenge, and remains a top priority for our work with the Legislature, local governments and affordable housing developers and service providers.”
The awards announced today represent a rigorous evaluation process in which the most impactful of 86 applications were recommended for funding. Applications for funding were submitted by community-based organizations, nonprofit housing assistance organizations, tribes, local housing authorities, and local governments in response to two separate solicitations. Applicants represent a wide range of communities in all 39 Washington counties.
Total requests for funding from state and federal sources topped $355 million.
Projects awarded funding prioritized housing for residents earning 30% or less of the area median income in some cases. Future residents of these buildings may include those with intellectual or development disabilities, seniors, veterans, families with dependent children, those affected by medical challenges, and adults impacted by structural forces like poverty and racism.
Twenty-two of these awards are funded with state dollars, and the remaining five are funded with federal dollars. The funding administered by Commerce is from state and US Department of Housing and Urban Development (HUD) sources:
Affordable housing funding opportunities are released multiple times per year on the agency’s Multifamily Rental Housing webpage and the Contracting with Commerce webpage.