More than 1,000 units of affordable housing will be built over the next five years within a half-mile of Metro Transit centers and Sound Transit light rail stations, under a bill signed by Executive Constantine to invest up to $87 million in his Transit-Oriented Development Bond Allocation Program.
The adopted legislation calls for the County to issue a total of up to $87 million in bonds, to be backed by future hotel/motel tax revenues, for construction or preservation of hundreds of housing units within a half-mile of new or existing light rail or train stations operated by Sound Transit, or RapidRide, or Bus Rapid Transit stations operated by King County Metro Transit:
- Countywide: $32.3 million for projects with nonprofits and partner agencies
- I-90 Corridor: $10 million for projects near transit stations along the I-90 Corridor between Issaquah and North Bend
- Northgate: $10 million for a project or projects at the Northgate Transit Center
- South County: $10 million for projects near the Des Moines or Federal Way transit stations
- Eastside: $10 million for projects near Bel-Red Corridor transit stations
- Seattle South Downtown: $14.7 million total, of which $8.7 million would be dedicated to the Historic South Downtown Public Development Authority, $3 million for the Pacific Tower affordable housing project, and $3 million for affordable housing near Othello Station.
Learn more and find the forms for Requests for Proposals here.
Senior Strategic Communications Advisor to the Director of the King County Department of Transportation