Tuesday, August 23, 2016

More Affordable Housing

According to David Neiman, micro-housing advocate and architect, every year our current Seattle micro-housing policies remain in effect:
  • 1300 people pay an average of $261 more per month in rent.
  • 345 fewer units are built, pushing up prices by adding to the city's production shortfall and increasing economic displacement of low income renters within our existing housing stock.
  • 97 units of 40% AMI housing are not created (affordable to someone making $25k/yr).
  • 753 units of 55% AMI are not created (affordable to someone making $34k/yr).
Multiplied over ten years, this represents the loss of 8,500 units of affordable housing, a 25% rent hike for 13,000 people, and 3,450 units of housing production lost. We could fix this with a couple of administrative actions and a minor change to the zoning code. Specifically, the mayor would need to roll back the new directors rule that makes small housing larger and the Office of Housing needs to do a market rent study to set a realistic rent level for SEDU MFTE rent.

For more details on this analysis, please contact David Neiman at david@neimanarchitects.com

If you agree with this recommendation, be sure to contact your Seattle City Council.

Happy Investing!

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