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City of Seattle
Gregory J. Nickels, Mayor
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NEWS ADVISORY
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| SUBJECT: Mayor Expands Effort to Create More Homes for Working Families
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FOR IMMEDIATE RELEASE:
10/4/2007 12:00:00 AM |
FOR MORE INFORMATION CONTACT:
Julie Moore (206) 684-0604
Alex Fryer (206) 684-8358
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Mayor Expands Effort to Create
More Homes for Working Families
Proposal builds on “Homes Within Reach”
as neighborhoods grow
SEATTLE - As a second part of his “Homes Within Reach” strategy,
Mayor Greg Nickels today announced a proposal to extend to other neighborhoods
throughout the city a successful program that is creating hundreds of affordable
homes in the downtown area.
“The troubling fact is that today’s housing market is rising beyond
the reach of too many people and we need new tools to keep Seattle an affordable
place to live, work and raise families,” Nickels said. “What I’m
proposing today will help create more needed homes for working families and
ensure that the neighborhoods that accept growth also benefit from the growth.”
The mayor’s proposal doesn’t change any existing neighborhood
zoning, but would be incorporated whenever a significant zoning change is adopted
in the future. If approved, the program would become part of zoning changes
now under consideration for the south downtown, South Lake Union and Dravus
areas.
Under the program, developers who take advantage of an increase to height
and density limits would be required to either build affordable units as part
of their residential project, or pay into a fund to create housing affordable
for working families and other neighborhood amenities, such as parks and open
space.
The proposal, sent to the City Council this week, is the second element of
Nickels’ “Homes Within Reach” strategy, launched in July.
The efforts aim to create new opportunities for teachers, nurses, grocery clerks,
hotel workers, firefighters and other moderate-wage earners to find homes they
can afford in the city.
Rents on apartments built under the plan would be affordable to households
making up to approximately $50,000, while the sale price of condominiums would
be affordable to households earning up to about $63,489 a year. Both rental
and homeownership units must remain affordable for 50 years.
Similar zoning incentives for affordable housing were adopted in early 2006
for Seattle’s Center City - the downtown central office core and adjoining
areas, including the Denny Triangle and a portion of Belltown.
As construction costs soar, developers have been looking for ways to make
housing affordable to a wider group of people. “We commend the mayor
for taking steps that will provide the flexibility to meet our needs as developers
while giving us the opportunity to contribute to, or even directly provide,
much needed housing for Seattle’s moderate-wage workers,” said
Hal Ferris, principal with Lorig Associates LLC.
“Zoning incentives for affordable housing are an important tool to provide
homes for working people, such as nurses and teachers, who may not qualify
for the city’s subsidy programs yet who are having difficulty finding
housing within the city limits,” said Adrienne Quinn, director of Seattle’s
Office of Housing,
In July, the mayor announced part one of his Seattle “Homes Within Reach” plan,
which would extend the existing multifamily incentive program to all urban
villages to help a broader range of people find affordable apartments or condos
in more neighborhoods across Seattle.
In part one, which the City Council is currently reviewing, the program will
provide a 12-year tax exemption on the residential portion of any new apartment
building in which 20 to 25 percent of the units are set aside for individuals
earning up to $49,000 or families earning up to $62,300.
Seattle has a long history of meeting the housing needs of the poor or low-income
earners. During the past 20 years, the Housing Levy and other programs have
created nearly 10,000 homes for those earning between zero and $45,000 a year.
In recent years, as housing prices climb, the new challenge has become trying
to provide opportunities for those who don’t qualify as low-income earners,
but who are increasingly priced out of the market with few places to turn.
The median price of new condos now exceeds $350,000, requiring an annual income
of more than $74,000. Median-priced single-family homes now require an annual
income of more than $100,000.
Get the mayor’s inside view on initiatives to promote transportation,
public safety, economic opportunity and healthy communities by signing up for
The Nickels Newsletter at www.seattle.gov/mayor/newsletter_signup.htm.
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Office of the Mayor
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