The Bellevue City Council recently met to advance several major housing initiatives, including the largest housing funding round in Bellevue’s history. These actions are part of the city’s ongoing effort to increase affordable housing in Bellevue and meet growing housing demand as the city continues to attract jobs and residents.
City leaders directed staff to prepare legislation approving up to $25.7 million from the Housing Stability Program and up to $11.3 million from the city’s Affordable Housing Fund. The funding will support four projects expected to create 271 new affordable housing units within Bellevue.
In addition, the council approved $1.3 million from the ARCH Housing Trust Fund to support these projects and additional developments across the Eastside. The contribution from ARCH (A Regional Coalition for Housing) will help fund another 234 affordable housing units in neighboring communities…