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!

Micro Apartments in Seattle

Today I met with developer and builder Daniel Stoner, founder of Cubix Apartments. Cubix is a type of micro-apartment designed for renters of modest incomes. These units average around 225sf and rent for $750, which includes wifi and all utilities.

They are larger and feel more spacious than typical Capitol Hill "apodments" which may be as small as 110-130sf and rent for more money. Here is a photo of a Cubix unit:

We are looking at a sink, vanity and cabinets, with a mirrored closet in the background. Floors are faux wood vinyl. The bathroom (behind the vanity) has a pocket door, a toilet and a shower stall, but no sink. There is a refrigerator, but no stove or oven in this unit. Now the City code requires kitchen facilities ensuite, but at the time these units were built, that was not a requirement.

Here is a photo of the shared kitchen facility, one for about every 4-6 units:

Cubix offers affordable living for single occupancy tenants in an attractive, energy-efficient apartment unit. Something to consider developing for the future, as Seattle's income inequality gap continues to widen.

Happy Investing!

Seattle Microhousing (Apodments)

The recent trend in Seattle toward very small living spaces with communal kitchens and showers in new construction in dense, walkable communities has met with both acclaim and with trepidation. These "aPodments," as they are known, have come under fire lately. Advocates claim that they provide more affordable housing for young working professionals; neighbors claim that it depresses property values and attracts undesirable residents.

How much do you know about this topic, as it relates to Seattle housing? Test your knowledge here, and we will provide correct answers in tomorrow's blog:

By the year 2020, Seattle’s population is expected to grow by:

a)      50,000 residents

b)      134,000 residents

c)       257,000 residents

d)      Not expected to increase

Seattle microhousing units (apodments) are typically

a)      100 sf or less

b)      101-350 sf

c)       351-500 sf

d)      501-650 sf

Microhousing is constructed to the same fire and building codes as other buildings in Seattle. True or False?

The number of microhousing units slated to enter the Seattle rental housing market is

a)      1000

b)      2371

c)       5000

d)      7783

The monthly rental price of an average studio apartment in Seattle as of April 2013:

a)      $775

b)      $991

c)       $1031

d)      $1200

Seattle’s median income (according to the 2010 census) is:

a)      $45,215

b)      $60,665

c)       $63,350

d)      $65,125

Microhousing is more expensive per square foot than regular apartments. True or False?