King County has passed legislation paving the way for the development of nearly 900 units of affordable housing over the next five years. The move takes advantage of Washington state legislation that allows the county to issue workforce-housing bonds totaling as much as $45M. A local hotel tax will back the bonds, and will support residential properties within a half-mile of a transit station, Multi-Housing News reports. It's estimated that the measure will increase the stock of affordable housing in King County by 9%. [MHN]
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