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Multifamily Property Tax Exemption (MFTE) Program

The MFTE program allows developers to receive a property tax exemption on the residential portion of a development for 12 years. In exchange, a certain number of the housing units must be affordable for moderate-wage workers. The tax exemption is available in 39 target areas in Seattle. More ...

For more information contact Miriam Roskin.

Land Use Code Incentives — Residential Development

Residential Bonus: Extra floor area above the base height limit may be achieved for residential developments in exchange for affordable housing. Developers can build affordable housing as part of their development or, in certain zones, make a contribution of approximately $15 per gross square foot to the City to fund new affordable housing. The affordable housing is intended to primarily serve Seattle’s moderate-wage workers. The Residential Bonus Program is currently available in midrise and highrise zones, plus in downtown on sites zoned DOC-1, DOC-2, DMC 240 and DMC 340, and in the Dravus neighborhood on sites zoned SM/D/40-85. More . . .

For more information contact Laura Hewitt Walker at (206) 684-0429.

Transferable Development Rights Potential (TDP): This option helps Seattle maintain a more variable scale of buildings in South Downtown and Multifamily Highrise zones by allowing density to be moved from one site to another. Excess development rights from a certified TDP site can be sold to developers needing residential floor area beyond a base height or floor area ratio (FAR) limit. The proceeds of TDP sales are used for preservation of priority uses. The type of TDP that can be sent or received varies by zone and may include open space TDP, Landmark TDP, and South Downtown historic TDP. More . . .

For more information contact Laura Hewitt Walker at (206) 684-0429.

Land Use Code Incentives — Non-Residential Development

Extra non-residential floor area above the base floor area ratio (FAR) may be achieved for office, hotel or certain other developments through non-residential bonus, transferable development rights (TDR), and on-site amenities.

Non-Residential Bonus: This incentive enables developers achieve additional FAR in exchange for housing and childcare affordable to lower-wage workers. The housing and/or childcare can be provided by the developer or a contribution of $18.75 per gross square foot for housing and $3.25 per bonus square foot for childcare facilities may be made to the City for those purposes. The non-residential bonus is currently available in certain Downtown and South Downtown zones and in South Lake Union IC zones in the area shown on Exhibit 23.50.051.A. More . . .

For more information contact Laura Hewitt Walker at (206) 684-0429.

Transferable Development Rights (TDR): This option helps Seattle maintain a more variable scale of buildings in Downtown, South Downtown and South Lake Union neighborhoods by allowing density to be moved from one site to another. Excess development rights from a certified TDR site can be sold to developers needing non-residential floor area beyond a base floor area ratio (FAR). The proceeds of TDR sales are used for preservation of priority uses. The type of TDR that can be sent or received varies by zone and may include within-block TDR, housing TDR, landmark housing TDR, DMC housing TDR, landmark TDR, South Downtown historic TDR, open space TDR, and arts facility TDR. More . . .

For more information contact Laura Hewitt Walker at (206) 684-0429.