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Department of Housing outlines pipeline, supportive housing plans and homelessness strategy
Summary
The Department of Housing told the Finance, Revenue and Bonding subcommittee it has completed about 3,000 units using bond proceeds since 2023, has 6,400 units under construction, and is focusing new investments on deeper-affordability units (30''''''' 50% AMI), senior housing and supportive studios for people experiencing homelessness.
The Department of Housing briefed the Finance, Revenue and Bonding subcommittee on the governor's capital requests and the agency's implementation plans, highlighting a large development pipeline and targeted supportive-housing efforts.
What the agency reported
The commissioner said the department completed "a little over 3,000 units" since 2023 using about $179 million in bond proceeds and leveraged roughly $660 million in other capital for a total of $839 million in development activity. The department reported about 6,400 units are under construction, representing a state investment of about $346 million and leveraging roughly $1.9 billion for a total of $2.3 billion in activity.
Targeting deeper affordability and supportive housing
The Department of Housing described a shift toward creating more units serving households at 30'' to 50% of area median income…
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