BELLEVUE—Congresswoman Suzan DelBene (WA-01) on Thursday, April 24, visited August Wilson Place, a 57-unit affordable housing development in downtown Bellevue, to highlight the nationwide shortage of affordable housing. The property was made possible because of the Low-Income Housing Tax Credit (LIHTC/Housing Credit), the nation’s most effective tool for creating affordable housing. During the visit, DelBene participated in a roundtable to hear from a wide range of local housing stakeholders, including Bellevue community officials, property operators, housing advocates, employers, and facility residents.
Washington faces one of the most severe affordable housing shortages in the country, with more than 250,000 households spending over half of their income on rent. The Housing Credit has been instrumental in financing the construction and preservation of over 4 million affordable homes nationwide since its inception.
Earlier this month, DelBene introduced bipartisan legislation with over 100 members of the House that would build or restore 1.6 million more affordable homes, including 53,000 in Washington, by expanding the Housing Credit.
“Access to a safe, affordable home is foundational to a family’s well-being, yet far too many families in Washington are being priced out of their communities,” said DelBene. “This development underscores the impact the Housing Credit can have and why it’s a proven solution to help address the affordable housing crisis. This crisis won’t be solved overnight, but with the right tools and smart federal investment, we can make a real difference. Expanding the Housing Credit is one of the most effective ways we can deliver the affordable housing our state desperately needs.”
“LIHTC is the single most important source of financing for creating and preserving affordable housing in Bellevue,” said Bellevue Mayor Lynne Robinson. “Expanding LIHTC through the Affordable Housing Credit Improvement Act will help us to create more housing opportunities for families, seniors, low-wage workers, and people seeking stable housing.”
This week, House Democrats are hosting a Cost of Living Week of Action to highlight the affordability challenges facing American families.
Source: Office of Congresswoman Suzan DelBene (WA-01)
Author: Lynnwood Times Staff
