Investing in Eastside Affordable Housing

Echoing the Puget Sound area’s commitment to providing more affordable housing, the Bellevue City Council recently voted unanimously to fund nearly 900 residential units on the Eastside, including 350 in Bellevue.

A Regional Coalition for Housing recommended a $4 million investment from the 2023 Housing Trust Fund to support five affordable-housing projects. Member cities contribute to the Housing Trust Fund, with $1.4 million from Bellevue. Redmond will invest an additional $2.1 million for two of the projects.

Under the recommendation, Bellevue’s Housing Stability Program would invest $15 million in three more projects aimed at providing housing and housing services to underserved populations that earn less than 60% of the area median income.

Within Bellevue, the funds will support Bridge Housing’s Spring District transit-oriented development for those with intellectual and development disabilities, Catholic Housing of Western Washington’s Maurice Elbert House and the Low-Income Housing Institute’s Aventine Apartments.

Additional Eastside projects would represent a range of housing, including communities for affordable senior independent living and supportive housing for formerly homeless veterans, seniors and people with disabilities.

This post was based on information found on 425 Business. Photo source: liveatpolarisateastgate.com.