Multifamily Rental (Traditional HTF) Funding Grant

The Washington State Department of Commerce is offering over $268 million in funding for multifamily rental affordable housing projects through the Housing Trust Fund. This initiative aims to increase or preserve affordable housing stock in Washington State, supporting various project types that serve multiple households. Eligible applicants can utilize this funding to construct or rehabilitate properties, with a requirement to start construction by a specified date after contract execution.

Over $268 million is available to applicants seeking capital from the state Housing Trust Fund for multifamily rental affordable housing projects.
Background
The Department of Commerce (Commerce) is soliciting applications for Multifamily Rental affordable housing projects seeking capital funding from the state Housing Trust Fund (HTF) program.
This Notice of Funding Availability and Solicitation (NOFA) is intended for applicants seeking to undertake activities resulting in an increase of affordable housing stock in Washington State, or to preserve existing affordable housing stock through rehabilitation. Projects that receive awards as a result of this NOFA must execute a contract with Commerce and start construction by specified date.
Commerce reserves the right to extend this deadline in unique and unforeseeable circumstances. Applicants dependent on an allocation of 4% Low Income Housing Tax Credit (LIHTC) will be accepted and reviewed, but there will be no award announcement or guarantee of funding until the Washington State Housing Finance Commission (WSHFC) announces the 4% LITHC funding recipients.
For the purposes of this NOFA, Multifamily Rental Housing refers to a project intended to provide habitable space to more than one household (including single-person households).
This can take any of the following forms:
A single building consisting of two or more distinct units, each of which is inhabited by an unrelated household. This encompasses a continuum from duplexes to high rise apartment buildings;A set of at least two structures, initially constructed as housing for unrelated households, which is managed as a single functional unit. This includes single-residency houses that are owned and managed by a single entity;A building, or set of buildings, which by initial design or through adaptive renovations, is used to provide sleeping space to more than one single individual, with shared living, food preparation, and sanitary facilities. This includes shelters, dormitory-style housing (e.g. for seasonal farmworkers), and group home facilities.