Microsoft president: Washington housing crisis ‘going in the wrong direction’

Microsoft President Brad Smith had a warning about Washington’s housing shortage.

“We’re going in the wrong direction. The problem is getting bigger, not smaller,” he said.

Smith said Washington needs 55,000 new housing units every year to meet population growth. But last year, only 34,000 permits were issued, he said.

Microsoft’s investments in WA’s affordable housing

Since 2019, Microsoft has invested $750 million in affordable housing projects, preserving or building about 16,000 units. Still, Smith said that’s not enough — and developers are increasingly choosing other states where building is faster and cheaper.

“You learn a lot when you spend 3/4 of a billion dollars trying to solve a problem,” Smith said.

In a new report, Microsoft urged lawmakers to speed up permitting, open more land for development, and reduce costs.

The company also suggested repurposing underused spaces — like empty strip malls — for multi-unit housing.

“Microsoft was the first company in the nation to use shareholder resources to help solve the affordable housing problem,” Smith said. “You can’t have a healthy company unless the company is in a healthy community.”

Frank Lenzi is the News Director for KIRO Newsradio. Read more of his stories here.

Follow @FrankLenziKIRO