Washington Gov. Jay Inslee helps break ground at a new affordable housing complex in Renton (Office of Governor Jay Inslee.)
PORTLAND, Ore. (KOIN) – Washington state announced its largest-ever investment in affordable housing — including units for first-time homebuyers, low-income, and homeless residents.
During the 2023 legislative session, lawmakers “‘went big’” on housing, Washington Gov. Jay Inslee said in a press release, noting officials budgeted over $1 billion to build affordable housing and promote new homeownership over the 2023-2025 biennium.
“Rising rents have put pressure on working people. So, the pressure is on us as lawmakers to take action, and we did last year in a big way,” said Inslee. “Now that money is going to work and starting to build new homes. And we’re still working on what more we can do this session to help.”
On Thursday, the Washington State Department of Commerce announced a $312 million investment in 73 affordable housing projects that will build 3,913 new housing units for low-income Washingtonians. This includes 470 units for first-time homeowners, 155 accessible units for people with intellectual and developmental disabilities, and 354 supportive housing units for people experiencing homelessness or with behavioral health conditions, officials said.
Of the 73 affordable housing projects, five are supported by the Amazon Housing Equity Fund – a new partnership between the state and Amazon to invest $28.8 million for 1,133 affordable housing units near public transit hubs.
Describing the need for more affordable housing, the Washington State Department of Commerce said, “It is estimated that over 1.1 million new housing units must be added across Washington state over the next 20 years to meet projected needs at all income levels.”
Part of the investment includes $274 million for 3,443 multifamily/rental housing units and $56.3 million for affordable housing projects in rural communities.
Lawmakers are also reserving 1,038 units for homeless residents and supported 554 permanent supportive housing units — which offers longer-term housing compared to emergency shelters and includes services to teach residents ways to sustain residency and reduce chances of returning to homelessness.
“These investments are an important step forward to ensuring everyone has an affordable place to live and the dream of homeownership is possible for every hard-working family,” Inslee said. “Because our Legislature went big on housing, thousands of families will benefit.”
“Communities throughout the state face urgent needs around housing stability, affordability and preventing homelessness,” said Commerce Director Mike Fong. “We are committed to ensuring that this historic funding provided by the Washington Legislature, and through our federal agency partners, is invested to benefit those most in need for years to come.”
