Developers interested in providing more affordable housing have the opportunity to seek state funding to get those projects off the ground.

The state Department of Commerce has opened applications for up to $212 million for multifamily housing projects, according to a release.

The funding is part of the Legislature’s $419 million, two-year investment in affordable housing, which passed during the 2025 legislative session.

The funds will come from a slew of sources, including Washington State Housing Trust Fund, Apple Health and Homes, Intellectual and Developmental Disabilities program, and the federal HOME and National Housing Trust Fund programs. Applications will be accepted until Oct. 16.

“Affordable rental housing is one of the smartest investments we can make in our state’s future,” said Commerce Director Joe Nguyen in a statement. “When we invest in housing that people can actually afford, we’re strengthening entire communities, supporting local economies and creating a better future for everyone.”

State officials say more than 1 million homes are needed over the next 20 years to meet housing demand in the state and at least half need to be affordable to those making less than 50% of the median family income.

The funding is available via two application processes:

• HTF Multifamily Housing
• HOME and NHTF

These won’t be the last opportunities for developers to get a financial boost for building affordable housing. Another $200 million set aside by the Legislature has yet to be made available.