Wednesday, September 22, 2021 7:54 pm

Microsoft investing millions in affordable housing for Seattle

Professional Builder

This week, Microsoft’s president and chief financial officer announced that the company is putting $500 million into an affordable housing initiative for residents in Seattle and its suburbs.

In a blog post entitled, “ensuring a healthy community: the need for affordable housing,” company president Brad Smith and CFO Amy Hood explain that the funding will be separated into three “pillars”: $225 million at lower-than-market-rate returns to subsidize the continuity and construction of middle-income housing in Bellevue, Issaquah, Kirkland, Redmond, Renton, and Sammamish; $250 million at market rate returns to support low-income housing in King County; $25 million in philanthropic grants to address Seattle’s homelessness crisisFast Company reports.

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