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Microsoft gives $500 million to support housing development around Seattle

Among other ventures, Liz Dunn created The Cloud Room, a coworking space in Seattle. (Photo courtesy of Liz Dunn) Liz Dunn started her career as a software developer at Microsoft. around a huge.

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Afterward, every Seattle Storm WNBA game, concert or other event the arena hosted turned into revenue for Seattle. That left only the remaining debt from the $422 million the Seatlle gave Microsoft.

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Microsoft announced Wednesday it would put $500 million toward creating and preserving affordable housing in the Puget Sound region in an attempt to curb the housing crisis. Of the $500 million.

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$250 million at market rate returns to support low-income housing across the entire King County region. We believe that additional capital at market lending rates can help accelerate the construction of low-income housing across the region. $25 million in philanthropic grants to address homelessness in the greater Seattle region.

What we do know is that $225 million in low-interest loans will go toward construction of middle-income housing in the suburbs east of Seattle and $250 million in loans with market-rate returns.

Microsoft Corp. President Brad smith speaks thursday, Jan. 17, 2019, during a news conference in Bellevue, Wash., to announce a $500 million pledge by Microsoft to develop affordable housing for low- and middle-income workers in response to the Seattle region’s widening affordability gap and to also to address homelessness.

On Wednesday, Microsoft announced it’d be pouring a massive sum to clear the way for housing in King County: $500 million to address the area’s affordable housing shortage, largely focusing on.

Microsoft pledges $500 million to tackle housing crisis in Seattle, Eastside. “Our success has been fueled by the support of this region,” Smith said.. Out of that amount, the company will give $5 million to an effort backed by the. largely by spreading the funds around in small amounts to several projects,

Best-known for fighting disease and destitution around the globe, the Bill & Melinda Gates Foundation is now turning its attention homeward with a new initiative to help. of Microsoft co-founder.

Microsoft pledges $500M to create affordable housing around Seattle. Amazon is based in Seattle, but also is planning new headquarters. Smith added that he hopes the pledge will help create “tens of thousands of units.