Millions set aside for homelessness projects, affordable housing in Pierce County budget Read more
The Pierce County Council approved a budget with some of the largest allocations earmarked for affordable housing development and homelessness programs ever, totaling more than $253 million in investments.
The council passed its $2.97 billion budget on Tuesday night with plans to triple homeless shelter space and build hundreds of more affordable housing units.
“If we’re not willing to make some investments directly to buy land, to help build, we’re not going to solve this,” Council Chairman Derek Young (D-Gig Harbor) told The News Tribune.
The county estimates housing need in past decade has surpassed development. Pierce County median home sales prices have increased 108 percent, and rental rates have increased 78 percent, outpacing the 10 percent increases in median household income.
https://www.msn.com/en-us/money/realestate/millions-set-aside-for-homelessness-projects-affordable-housing-in-pierce-county-budget-read-more/ar-AAR8iWF
