City investments made in 2020 will support the creation or preservation of over 1,400 rental homes and homeownership opportunities
Seattle (December 8, 2020) – Mayor Jenny A. Durkan announced additional investments of $55.8 million to support 840 low-income and affordable rental and homeownership opportunities in neighborhoods throughout Seattle. These investments, along with $60 million announced this summer to create 600 new units of permanent supportive housing, bring the 2020 total housing investments to $115.8 million, a historic level of investment in a single year for the City.
In addition to the first-ever Permanent Supportive Housing Pilot investments awarded this summer, for the first time in a decade the Office of Housing offered two rounds of funding to more quickly support affordable rental and homeownership housing—one in the spring and one in the fall. Mayor Durkan and the Office of Housing’s decision to increase the number of funding opportunities in a single year was made in direct response to the city’s urgent need for more affordable homes.
Since Mayor Durkan took office in 2017, the Office of Housing has invested $400 million of City funds to support nearly 5,300 new affordable rental homes and homeownership opportunities and preserved over 900 affordable homes for families and individuals earning low- and moderate-incomes. Funding sources for the 2020 Office of Housing investments include the 2016 voter-approved Seattle Housing Levy, and Incentive Zoning and Mandatory Housing Affordability payments. These local investments are will leverage additional county, state, and federal funds.
