Affordable housing projects seek $260 million in capital funding
Proposals could produce over 4,000 units statewide
Three separate Housing Trust Fund programs have received a total of 67 applications for projects that could produce over 4,000 units of housing serving various low-income populations across Washington state.
1. 2022 Multifamily Rental (Traditional HTF) NOFA (#MHU-2022-05)
Commerce received 60 applications requesting a total of $237,239,799 through the Traditional Housing Trust Fund program for construction or preservation of an estimated 3,760 multifamily affordable housing units.
- 22 projects in King County seeking $93 million to produce 1,981 units
- 24 projects in urban areas outside King County seeking $93 to produce 1,300 units
- 14 projects in rural areas outside King County seeking $51 million to produce 579 units
View Multifamily rental applicants list.
2. 2022 HOME & National Housing Trust Fund NOFA (#HFU-2022-05)
Commerce received three applications requesting $9.7 million to support the creation of up to 173 affordable housing units. This funding opportunity was intended primarily for applicants seeking to build new affordable housing units to increase the affordable housing stock in Washington. However, the preservation and acquisition of existing housing were also eligible.
View HOME & National Housing Trust Fund applicants list
3. 2022 Community Housing & Cottage Communities NOFA (#MHU-2022-03)
Commerce received four applications requesting $12.9 million to support approximately 88 units. These proposed projects, which are required to secure funding from other private and public sources, represent a total $15.6 million investment in affordable housing.
View Community Housing & Cottage Communities applicants list.
Next step
The eligibility and competitive review process is underway in each program and Commerce expects to announce funding awards in December 2022. The latest application details are always available on our "Applying to the HTF" webpage.
About the Housing Trust Fund
Housing Trust Fund dollars support a wide range of capital projects that house a diverse array of low-income populations. Properties financed by the program can house people with incomes less than 80% of Area Median Income(AMI), but the majority of these properties serve households with special needs or incomes below 30% of AMI, including:
- people and families experiencing homelessness,
- people in need of supportive housing,
- seniors,
- veterans,
- farmworkers, and
- people with developmental or other disabilities.
Special-needs projects coordinate with state and local service providers to ensure clients receive appropriate housing and services.
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