The Washington State Board of Natural Resources has unanimously approved a transfer of approximately four acres of state trust land to Pierce County for future affordable housing. The parcels near Graham have been zoned residential and could accommodate up to 28 lots of affordable housing units, both single-family and duplex. The Board approved the transfer at its regular meeting on October 1.

 

“The PCCDC is excited about the Fredrickson project because of the positive community impact and the role of revenue in supporting local schools and junior taxing districts as a trust beneficiary, along with our commitment to utilizing DNR land for affordable housing in Pierce County,” said Gary Hawkinson, Pierce County Community Development Corporation Chair.

 

The Department of Natural Resources (DNR) aims to advance housing projects on its lands to address the lack of available and affordable housing. Washington State has identified the need to build over a million homes in the next 20 years, which is over 50,000 new homes yearly. DNR has a diverse commercial leasing portfolio, making housing a natural addition to the public benefits state lands provide.

 

“Solving the housing crisis across our state requires new partnerships and creative answers, which is why I am committed to being part of the solution and leveraging public land for this public benefit,” said Commissioner of Public Lands Hilary Franz.

 

The parcel is valued at $998,000, and the proceeds from the transfer will be deposited into the Real Property Replacement Account to purchase future trust lands. DNR generates more than $250 million annually by managing trust lands, which are required to generate revenue to support schools, colleges, and critical local services across Washington state. That revenue comes from sustainable forest management, agricultural, clean energy, and commercial real estate leases.

 

DNR can directly transfer state trust lands to Tribes and local governments, with counties, cities, school districts, or port districts able to purchase these lands from the state at fair market value. DNR uses the proceeds from transfers to fund the purchase of replacement properties elsewhere in the state to support schools and critical local services.

 

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Communications Manager

360-902-1000