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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.
An affordable development near downtown Seattle.
An affordable development near downtown Seattle.Michael Schoenfeld/Enterprise Community Partners

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.