During a recent government meeting, Bellevue city officials discussed the progress and future direction of the city's affordable housing strategy. The meeting highlighted the successful implementation of the 2017 strategy, which has resulted in the creation and preservation of over 3,000 affordable housing units, exceeding the original target of 2,500 units ahead of schedule. This achievement reflects a 73% increase in the city's affordable housing inventory over the past seven years.

City Manager Carlson emphasized the importance of updating the affordable housing strategy to address ongoing needs and align with new state and regional housing policies. The proposed update aims to develop a comprehensive action plan for the 2026-2032 timeframe, focusing on increasing the availability of income-restricted affordable housing and enhancing overall housing affordability.

The council was presented with metrics demonstrating the success of various initiatives, including the multifamily tax exemption program, which has produced 336 affordable units across multiple developments. Additionally, city investments totaling $27.5 million have led to the creation or preservation of 607 units, attracting significant private investment in the process.

The meeting concluded with a motion to direct staff to initiate the update process for the affordable housing strategy, which will involve extensive community engagement to ensure diverse voices are heard, particularly from marginalized groups. The council's commitment to addressing affordable housing remains a priority as they prepare for the next phase of this critical initiative.