Search
 

Affordable Housing Gets Much-Needed Boost

SEATTLE, WA-King County has awarded $6.85 million in low-income housing grants and loans to 10 development projects that are expected to create or preserve 532 affordable housing units.

By Gina Binole | Updated on July 16, 2001

SEATTLE, WA-The search for scarce affordable living space just got a bit easier with a sizeable cash infusion from county and federal sources. King County has awarded $6.85 million in low-income housing grants and loans to development projects with the intent of adding more and improving existing affordable housing units in the area.The housing ranges from affordable rentals for families, seniors, homeless families and people with special services needs, to home ownership opportunities for first-time buyers.

“Nearly all the housing will serve households below 50% of median income,” Ava Frisinger, mayor of Issaquah and chair of the King County Consortium’s Joint Recommendations Committee said in announcing the news. “These households have a difficult time finding affordable rental and ownership housing in our high-cost market.”

A three-person household at 50% of the King County median income earns $32,500; a single person at 50% of median earns $25,250.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.