Seattle Commits Another $110 Million to Income-Restricted Rental Pipeline
Seattle’s Office of Housing opened its 2026 funding round on July 20, making at least $110 million available for construction, preservation, and acquisition of income-restricted rental housing. Developers can apply for capital supporting new construction, rehabilitation of existing buildings, or acquisitions that maintain long-term affordability. Applications are open now through the city’s funding opportunities portal.
Seattle awarded $155 million through its 2025 funding round earlier this year, financing more than 2,100 affordable homes across 20 projects. The Office of Housing issues annual awards using Seattle Housing Levy dollars and coordinates with regional and state housing finance programs. Projects are scored on affordability levels, development readiness, financing structure, and alignment with city housing priorities.
Seattle continues to increase its annual commitment to below-market housing production as the city contends with persistent supply shortages. The funding model blends local levy proceeds with state and regional sources, creating a recurring pipeline for nonprofit and for-profit developers focused on income-restricted units. Similar competitive funding rounds in other West Coast cities have grown in size as municipalities seek to offset high land and construction costs that discourage unsubsidized affordable development.
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