The King County Council is considering a proposal that would build rent-restricted workforce housing for people who make too much to qualify for low-income housing, but struggle to afford rent.
Under the new proposal, put forward by King County Councilmember Girmay Zahilay, the county would use local government bonds to borrow at least $1 billion to build, renovate, or convert buildings into public housing. If given the green light, the rent from those properties would be used to pay back that debt and cover operating costs.
The county’s Executive Office would work with developers and housing authorities to iron out the details and implement legislation surrounding the project by March. The number of housing units has yet to be determined, but the proposal identifies three income brackets it could potentially serve:
- People making 50% area median income.
- People making at or below 80% area median income.
- People making at or below 120% area median income.
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