Commerce awards $50.6 million to rapidly acquire 13 properties for shelters, affordable housing
Grants bolster efforts to confront homelessness in 10 counties across Washington state
OLYMPIA, WA — The Washington Department of Commerce announced approximately $50.6 million in grants to 13 affordable housing projects throughout the state. This second round of funding through the state’s 2022 Rapid Capital Housing Acquisition program will create 214 affordable units and 70 beds of housing for people in Washington who are currently homeless or at high risk of homelessness across ten counties.
Rapid Capital Housing Acquisition grants awarded March 2023
“Over the past two years, the Legislature made historic investments in housing that are helping move many more people indoors and keep them housed with dignity and safety,” said Commerce Acting Director Kendrick Stewart. “We have far more work to do, but this latest round of investments will quickly bring more housing options online and maintain them for the future.”
The RCHA program provides funding to acquire real property for rapid conversion into enhanced emergency shelters, permanent supportive housing, transitional housing, permanent housing, youth housing or shelter for people with extremely low incomes and people experiencing sheltered and unsheltered homelessness in Washington state. The program helps organizations acquire properties capable of swiftly housing people with minimal updates. The projects must have evidence of local support and must maintain the housing units and beds for the intended use for 40 years.
Local governments, housing authorities, non-profits, tribal governments and other groups from regions with significant remaining funding were eligible to apply.
All projects will enter a 90-day due diligence period before contracting for the funds. Commerce grants are performance-based, providing funds on a reimbursement basis for eligible uses under the contract terms.
The 2022 Rapid Capital Housing Acquisition Phase II Notice of Funding Availability (Box .pdf) identified specific funding requirements and priorities, the process for applying, and significant dates. Find the latest funding opportunities and past awards on Commerce’s Applying to the Housing Trust Fund webpage.