Thursday, January 17, 2019

Microsoft Puts $500M Into Affordable Housing In Seattle

Microsoft said on Wednesday that it is putting $500M into affordable housing in the Seattle area, to help address the shortage of housing in the region. According to Microsoft, it will put $225M to help inject capital into the preservation and construction of middle-income housing in six cities east of Seattle and Lake Washington: Bellevue, Kirkland, Redmond, Issaquah, Renton and Sammamish, and another $250M to support low-income housing across the entire King County region. According to Microsoft, there isn't "enough housing for the people who live here" and because the median income in the region hasn't kept pace with rising housing costs, especially for teachers, nurses, first responders and others, including technology workers.