Justice
Battling Inequality, Seattle Bets on Transit-Oriented Housing
A new regional revolving loan fund will support affordable homes close to bus or rail corridors throughout the Puget Sound area.
A coalition of public, private, and nonprofit partners has launched a permanent fund to support equitable affordable-housing options near public transit across the Seattle metro area. The money is arriving right on time.
The new $21 million Regional Equitable Development Initiative Fund (or REDI Fund) will give developers access to low-interest loans to acquire property near existing and emerging transit corridors. With future federal support for fair housing in doubt and Seattle housing costs skyrocketing, this rotating-loan fund will enable inclusive-housing developments throughout the Puget Sound region.