Affordable Housing
In the Pacific Northwest region, affordable housing is a focused concern. In markets with high job growth like the greater Puget Sound and Portland areas, financing for affordable housing developments (for low- to moderate-income and previously homeless individuals) can take three to five years for developers.
It is important for vibrant communities to have affordable housing for all income levels and a bank that can structure affordable housing transactions quickly and locally. Since 2015, Heritage Bank has invested more than $240 million in affordable housing and provided more than $420 million in financing for affordable housing projects.