Office of Housing Releases 2022 Annual Reports

Aerial overview of the Westlake neighborhood, which resides along Lake Union. In the far background is the University of Washington and Lake Washington.

Investing in permanent affordable housing is one of the most critical actions our City performs to ensure that we meet the demands of this moment in addressing Seattle’s housing affordability crisis, helping seniors, low-income workers, families with children, and people experiencing homelessness get housed and stay housed. The Office of Housing’s annual reports demonstrate the collaborative, creative, and efficient uses of the City’s overall investments into affordable housing through programs like the Seattle Housing Levy, Mandatory Housing Affordability and Incentive Zoning, and Multifamily Tax Exemption.

With support from Seattle residents, the City has significantly increased the investments we make into the development of affordable housing for those who would otherwise not be able to afford to live, work, and create resilient communities. Working together, we can continue to make Seattle affordable and livable for generations to come.

Key highlights for 2022 include:

2022 Annual Investments Report

$144 million awarded for rental housing production, for 990 new affordable rental apartments to be produced through these awards.
$40.3 million in acquisition loans to secure seven sites that will support future development of 380 new rental units.
$10.48 million for permanently affordable homeownership development and 95 new permanently affordable for-sale homes at six sites.
$5.8 million in stabilizing homes for homeowners through the Home Repair Program, Weatherization Program, and Clean Heat Program.

2022 Seattle Housing Levy Report

In the sixth year of the 7-year 2016 Levy period, three of the five program areas have already exceeded their goals and the other two are on track to fulfill them by the end of the program period in 2023.
$13.8 million in Levy funds to five rental housing development projects will provide 321 affordable homes, in addition to $3.8 million preserving long-term affordability for 62 homes in one project.
$5.8 million for homeownership development, resulting in the construction of 58 new permanently affordable for-sale homes.
Over $122,000 in home repair grants allowing 19 low-income homeowners and their families to remain in their homes, and additional funding and services for homeowners including foreclosure prevention.
Assisting 414 households at imminent risk of eviction and homelessness to maintain stable housing and 129 households to move into housing after living in their car, a shelter, or outside through Homelessness Prevention and Housing Stability Services.

2022 Mandatory Housing Affordability (MHA) and Incentive Zoning (IZ) Report

For projects with issued building permits in 2022:
- Approximately seven percent (66 units) of total residential units were committed as affordable housing in 14 projects satisfying MHA requirements through the performance option.
- MHA payments received totaled $74.7 million.
$The Office of Housing awarded $77.5 million of MHA funds in 2022 to support over 900 affordable rental apartments and 30 for-sale homes reserved for low-income first-time homebuyers and resale-restricted to ensure permanent affordability.
Three units were committed as affordable housing in two residential developments satisfying IZ requirements through the performance option. IZ payments received totaled $17.5 million. The Office of Housing awarded $11.4 million of IZ funds in 2022 to support development of 58 affordable rental apartments and renovation of three buildings that affordably house over 341 individuals and families.

2022 Multifamily Tax Exemption (MFTE) Report

22 multifamily housing properties totaling 3,738 rental units (including 793 MFTE units) and 12 ownership units were issued Final Certificates of Tax Exemption.

The Office of Housing’s overall investments into all types of affordable housing, alongside our homeowner stabilization programs, continues to create safe and healthy homes where people can find stability and thrive. These reports show the City’s direct investments into building a One Seattle where everyone has a place to call home.

For more information on the Office of Housing’s annual reports, please visit seattle.gov/housing or contact housing@seattle.gov.

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