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.
Related Stories
Multifamily Housing | Apr 28, 2015
Masdar City: Construction on sustainable residential complex begins
The planned city’s new residences will help support Abu Dhabi’s rapid population growth.
Multifamily Housing | Apr 28, 2015
Mace and Make work on London's 40-story residential tower
The tower is one of six residential high-rises planned near London’s City Road, which is undergoing a mini construction boom.
Multifamily Housing | Apr 27, 2015
The empire strikes back: George Lucas proposes new affordable housing complex he'll finance alone
The latest plans are seen by some as payback for community opposition to his past real estate ventures.
Wood | Apr 26, 2015
Building wood towers: How high is up for timber structures?
The recent push for larger and taller wood structures may seem like an architectural fad. But Building Teams around the world are starting to use more large-scale structural wood systems.
Multifamily Housing | Apr 22, 2015
Condo developers covet churches for conversions
Former churches, many of which are sitting on prime urban real estate, are being converted into libraries, restaurants, and with greater frequency condominiums.
Green | Apr 22, 2015
AIA Committee on the Environment recognizes Top 10 Green Projects
Seattle's Bullitt Center and the University Center at The New School are among AIA's top 10 green buildings for 2015.
Multifamily Housing | Apr 16, 2015
3 award-winning affordable multifamily developments
San Francisco's Bayview Hill Gardens and the Broadway Affordable Housing complex in Santa Monica, Calif., are among the multifamily developments to be honored in AIA's 2015 Housing Awards.
Multifamily Housing | Apr 16, 2015
Seattle’s size restriction on micro apartments blamed for rise in rents
Seattle’s city planner recently said that the council’s new rules have made small apartments more expensive to build and charged the board with “overreaching” and not giving micro-housing “a fair shake.”
High-rise Construction | Apr 16, 2015
Construction begins on Seattle's Tibet-inspired Potala Tower
Construction on the 41-story Potala Tower in Seattle finally kicked off following a ground-breaking ceremony seven months ago.
Hotel Facilities | Apr 13, 2015
Figure-eight shaped hotel to open around PyeongChang 2018 Winter Olympics Facility
Just three miles away from the Olympic stadiums, the hotel will be a hub of its own.
