From Smart Cities Dive:
Microsoft says there was a deficit of about 316,000 middle- and low-income affordable housing units in the Puget Sound area last year, which was an increase from the 2018 gap of 305,000 units.
"The problem is straightforward: Our community isn’t building enough housing that’s affordable to low- and middle-income families, particularly in Seattle’s surrounding cities on the eastside of King County. The solution – as many of us know – is complicated," Microsoft Philanthropies Senior Director Jane Broom wrote in a company blog post.
However, the company did have some progress to report since last year. A Microsoft analysis found that the year-over-year growth rate of that deficit has decreased from 10.8% in 2017 to 3.6% in 2019. Other points of progress from the past year include a $60 million investment with the King County Housing Authority to preserve 1,209 middle-income housing units, and a $5 million grant towards 800 additional permanent supportive housing units for adults experiencing homelessness.
"We’re very pleased that they [Microsoft] are continuing to find creative ways to move the needle in terms of addressing the affordable housing crisis in the region," Rhonda Rosenberg with the King County Housing Authority told Smart Cities Dive in a statement.
Read Smart Cities Dive's article "Microsoft adds $250M to Seattle affordable housing commitment," featuring the King County Housing Authority.