Thursday, September 26, 2019

Microsoft Invests $60M To Preserve Affordable Housing In King County

Microsoft Corp., King County Housing Authority (KCHA) and King County on Thursday announced a combined $245 million investment to protect 1,029 units of affordable rental housing throughout King County. The partnership comes in the form of a 15-year, $60 million loan from Microsoft to KCHA at below-market interest rates, combined with $20 million in low-interest debt and additional credit enhancements provided by King County, and $140 million in bonds issued by KCHA. This investment marks a significant milestone for Microsoft’s $500 million commitment announced in January 2019 to advance affordable housing solutions in the Puget Sound region.