The city will fund new construction, preservation, and — for the first time — stabilization of housing at risk financially.
SEATTLE — Seattle Mayor Bruce Harrell on Monday announced a historic $170 million investment in affordable housing — the largest single-year commitment in the city’s history.
The funding, called a Notice of Funding Availability, will support the production, preservation, and stabilization of affordable rental housing across the city. For the first time, Seattle will dedicate money to stabilize financially challenged properties in order to keep homes from being lost.
“It’s a significant investment really meeting the moment we’re in,” said Patience Malaba, executive director
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