Seattle officials recently unveiled a plan to create 6,000 units of affordable housing in the city. Some have called the measure a "grand bargain" between real estate developers and affordable housing advocates. The legislation includes a commercial linkage fee, called the Affordable Housing Impact Mitigation Program. It requires developers to pay a fee for each square foot of new commercial development.
Funds from those fees, ranging from $5 to $17 per square foot, will be used to pay for new affordable housing units. Also part of the plan is a requirement for new multifamily developments to set aside between 5% and 8% of units for affordable housing for 50 years. Residents who earn up to 60% of the area median income, currently $37,680 for individuals and $53,760 for families of four, would be eligible for the affordable units.
In addition, the city will consider increasing development capacity. In the downtown and South Lake Union areas, new developments would be permitted to have an extra 1,000 sf per floor. Outside of the main downtown area, new buildings would be permitted to add an additional story.
Advertisement
Related Stories
Codes + Standards
Public Comment Period Opens for National Green Building Standard Updates
The 45-day public comment period for draft 2 of the 2024 NGBS begins on April 12, 2024
Codes + Standards
Public Comment Period Opens for 2024 National Green Building Standard Update
The 45-day public comment period opened Aug. 18, and comments must be submitted by Oct. 2, 2023
Codes + Standards
The Inefficiencies of the Latest Energy Code
The 2021 edition of the International Energy Conservation Code (IECC) hampers the return on investment for builders and homebuyers
