In a recent Bellevue City Council meeting, members unveiled plans to embark upon addressing the issue of affordable housing. The proposed 10-year target, planning to be revisited after comprehensive community engagement and thorough analysis in the fall, aims to deliver 5,700 housing units.
This ambitious move comes after a 110% increase over the amount of affordable housing achieved in the previous seven years. It is a 128% increase over the prior-10 year target for affordable housing production or preservation. The city initially set its sights on achieving 2,500 affordable housing units when it adopted the Affordable Housing Strategy back in 2017.
The new affordable housing target stems from Bellevue’s 2022 Housing Needs Assessment gap analysis, emphasizing the necessity of addressing housing disparities. Spanning a decade from 2024 onwards, the target remains fixated on fostering housing for households earning 80% of the area median income or below.
It describes housing unit sub-targets predicated on household income, with approximately half of the aim directed towards those earning less than 50% of the area median income.
The adoption of a new affordable housing target is created with the intent to align the city with anticipated growth projections outlined in the ongoing development of the Comprehensive Plan Update. It will serve as a catalyst for furthering the objectives set forth in the Affordable Housing Strategy.
The city’s plans include expanding partnerships and implementing additional tools and methodologies to increase the production and preservation of affordable housing in the years ahead. These initiatives are essential for achieving the newly established target.
