Microsoft Pitches in to Help Affordable Housing

Microsoft spokespersons said it requires working together as a community to preserve affordability.

SEATTLE—Across the region, housing costs have risen and increasingly pushed out people with lower and even middle incomes. As a result, the Puget Sound has become the sixth most expensive region in the country and has recorded a 21% increase in jobs since 2011, coupled with only a 13% increase in housing units. This problem is even more pronounced in the smaller cities around Seattle, more so than in Seattle itself.

This week, Microsoft Corp. announced a $500 million commitment to preserve existing affordable housing, spur construction of new units and partner with nonprofits to address the affordable housing crisis on the Eastside of King County and the Puget Sound region. The majority of this capital will be deployed during the next three years.