Office of Housing

Application for the Seattle Homes Within Reach Program must be made prior to the date of a building permit for the project.

PROGRAM OVERVIEW

Purpose

Encourage the development of multifamily housing opportunities within the City of Seattle.
Stimulate the construction of new multifamily buildings, and the rehabilitation of vacant or underutilized buildings.
Increase the supply of housing opportunities for low- and moderate-income households.
Assist in accomplishing the planning goals required under the Growth Management Act, by increasing the supply of multifamily housing opportunities in urban growth centers.
Contribute neighborhood development and community revitalization.
Preserve and protect buildings of historic and cultural significance.
Encourage the creation of both rental and homeownership "workforce housing".
Encourage the development of mixed-income housing.

Tax Exemption Benefits

A project approved for the property tax exemption under the program will receive a certificate of tax exemption for the assessed value of the residential improvements.
The assessed values of the land and any non-residential component of the improvements (retail, commercial, office space, etc.) are not eligible for the exemption and will be taxed on its full assessed value.
The property tax exemption will remain in place for a maximum of ten years, assuming the property remains in compliance with the rules of the Program.
The tax exemption is transferable to a new property owner as long as they continue to meet the compliance requirements.

Eligibility criteria and map of target areas

Applications must be submitted to the Office of Housing prior to the date a building permit is issued for the multifamily development.
The development site must be located within the boundaries of one of 17 Homes Within Reach target areas (pdf format).
The development must be a residential or mixed-use project with a minimum of 50% of the gross floor area for residential use.
New construction projects must have a minimum of 4 housing units.
Rehabilitation or conversion projects must include the addition of at least 4 new housing units.
Rehabilitation or conversion projects must not cause displacement of existing tenants.

Affordability requirements

If rental units:

A minimum of 20% of the units rented to households with income, including basic utilities, at or below 60% of median, at rents determined to be affordable to such households; or
A minimum of 25% of the units rented to households with income, including basic utilities, at or below 65% of median, at rents determined to be affordable to such households; or
A minimum of 30% of the units rented to households with income, including basic utilities, at or below 70% of median, at rents determined to be affordable to such households.

If for-sale units:

The units eligible for the exemption must be priced, at initial sale, at a price that does not exceed the FHA mortgage limit for Seattle.
The units must be sold to households with incomes, at the time of purchase, that do not exceed 80% of median income.
Current income limits table

Code compliance and design review

New construction multifamily housing developments must complete the City’s design review process.
If applicable, Special Review District, Landmark Preservation, or Historic District certificates of approval or permits must be obtained.
All applicable zoning, land use, and building codes must be complied with during construction and throughout the duration of the tax exemption period.

APPLICATION PROCESS

Applications must be submitted to the Office of Housing prior to the date a building permit is issued for the multifamily development.
Application forms:

CODE REFERENCES

RULES AND OTHER PUBLICATIONS

ANNUAL REPORTING