Microsoft: $250M more for affordable housing in Seattle area

SEATTLE -- One year after Microsoft announced it was committing $500 million toward affordable housing in the Seattle area, it's upping that by half.

Jane Broom, the company's senior director of philanthropies, said in a blog post Wednesday the additional $250 million will provide a line of credit to help the Washington State Finance Commission finance about 3,000 additional units of  affordable housing.

The company says it's encouraged by the momentum for addressing homelessness in the region, but that it remains a serious challenge.

Microsoft says its goal is to preserve and create 6,500 affordable units in the greater Seattle area. The additional money will provide a line of credit to finance some 3,000 more affordable places to live.

The Associated Press contributed to this report