The City of Bellevue is offering a total of $30 million in funding to support affordable housing initiatives. This includes up to $20 million from the Housing Stability Program, funded by a 0.1% sales and use tax approved in 2022, and $10 million from the Affordable Housing Fund. Affordable housing developers and operators are invited to submit project proposals by noon on Sept. 9, 2025, with a pre-application conference required by Aug. 22.

The Housing Stability Program aims to provide capital for new construction, acquisition projects, and housing-related services for households earning below 60% of the area median income (AMI), prioritizing those below 30% AMI. The Affordable Housing Fund focuses on projects that serve a range of income levels, encouraging proposals that provide rental units for households below 80% AMI or homeownership units for those earning below 100% AMI. The funding from the Affordable Housing Fund is derived from accumulated developer fee-in-lieu payments and prior city appropriations, aimed at accelerating local affordable housing production. Interested parties can find application details through the Housing Stability Program request for proposals.