On Wednesday, Microsoft announced it is committing $500 million to address the lack of affordable housing in the greater Seattle area—the sixth most expensive region in the country.
The company will lend $225 million at below-market interest rates in an effort to subsidize the preservation and construction of middle-income housing in six cities around Seattle: Bellevue, Kirkland, Redmond, Issaquah, Renton, and Sammamish. Twenty-five million, delivered in the form of philanthropic grants, will be used to combat homelessness.
You have 0 complimentary articles remaining.
Unlimited access + premium benefits for as low as $1.99/month.