The Harrell administration is calling it the “largest single-year funding commitment to affordable housing in the city’s history” as the Seattle Office of Housing’s 2025 Notice of Funding Availability includes $170 million for the development, preservation, and stabilization of rental housing in the city.
“An affordable home provides stability, security, and the foundation to grow and thrive,” Mayor Bruce Harrell said in the press release announcing the opening of the 2025 funding window. “This investment will create additional affordable homes and maintain existing ones, with a focus on providing housing for families with very low incomes and for people exiting shelter into permanent housing.”
For the first time, the city’s NOFA is including opportunities for “stabilization.”
“Production funding creates new, long-term affordable homes. Preservation funding keeps existing properties well-maintained and accessible, and stabilization funding helps financially challenged properties continue serving their communities,” the city says.
The City’s Office of Housing will evaluate candidate projects with “available data, community input, and market conditions” to set funding priorities for NOFA applications. Continue reading