Affordable
Multi-family Homes
Our Vision
It’s a vicious cycle. Rent goes up, but your pay doesn’t. Before you know it, you’re paying more than half your income toward housing expenses and just staying alive requires living paycheck to paycheck. But without savings, investments or expendable income, this is the new normal. So what’s our solution? J2Housing was created to break that cycle. By offering quality, affordable housing that is capped at 30% of a resident’s wage, those that are rent-burdened can finally save money with dignity, building wealth for possibly the first time in their lives.
The Housing Crisis
Why it Matters
In the last decade, median home values in Seattle have increased by 80%. Meanwhile, King County's median family income has only increased by 55%. In turn, rent prices are up as well and housing supply has simply not kept pace with demand. This imbalance has left many paying more than half their wages toward housing, with little room for financial growth. But it doesn’t stop there. In addition to those facing the financial burden of the housing crisis, the city suffers as well. Studies show over 34,000 workers in jobs paying less than $40,000 per year are currently commuting more than 25 miles from their homes to jobs located in Seattle, and this number is expected to double by 2030. This directly conflicts with the state of Washington's green initiatives, creates additional cost for road maintenance, and removes millions of dollars from Seattle's economy.
A Powerful Vision
Housing Equity for Seattle
J2Housing has teamed up with over a dozen private and public entities in the Seattle area and greater state of Washington to begin construction on equitable workforce housing, improving the health and well-being of its residents while also enhancing neighborhoods of opportunity. This also means empowering small community businesses and working collaboratively with government agencies and community leaders to create equitable housing policies that eliminate racial and rent-burdened disparities toward the BIPOC community and other marginalized persons.
J2Housing Corporation is a Washington-based 501(c)3 nonprofit affordable housing developer that builds and holds its multifamily assets to ensure our residents experience long-term rental stability.
Building quality affordable homes in neighborhoods of opportunity so no working person is rent-challenged in the state of Washington.
- For Whom: Rent-burdened BIPOC (black, indigenous, and people of color) individuals and families earning between 30% and 80% of the area median income (AMI) in the state of Washington.
- Who: J2Housing Corporation, a Washington-based 501(c)(3) nonprofit affordable housing developer, and our collaborative public and private partners.
- What: Annually constructing 500+ affordable, multifamily, mid-rise homes in desirable transit-oriented urban locations.
- When: Constructing at least 500 multi-family affordable homes commencing by 2024 through 2028.
- Where: Serving the state of Washington.
- How: Annually acquiring MUP-approved multifamily assets—starting construction within 12 months of acquisition with new shovel-ready affordable housing developments.
- Why: Nearly 46,000 working households in Seattle are spending more than half of their incomes on rental housing costs, displacing long-term residents and excluding more than 34,000 BIPOC and modest-wage workers. Without more construction starts of quality affordable housing for working households, this latent demand will double citywide by 2030.
Meet Khevin Pratt
Founder and CEO
Because of my past experiences, I am passionate about providing opportunities to others. For most of my life, I spent more than half my income on housing. The severe rent-burden strain left me hopeless because I could neither build an adequate savings account nor afford good healthcare. So I truly understand our residents' plight in cities like Seattle that have not produced sufficient or reasonably-priced housing for the community. As a result, I inaugurated J2Housing— an organization focused on constructing quality, affordable homes in highly supply-constrained markets on the West Coast. I see myself in every one of our residents, and I believe we can create a more hopeful future together.
Our Board of Directors
Dennis Williams
Michael Fornerette
Michael Fornerette
Michael Fornerette
Michael Fornerette
Michael Fornerette
Michael Fornerette
