Housing Preservation and Transit-Oriented Development in Seattle

Rick Hooper, Acting DirectorSeattle Office of Housing

September 28, 2010

Seattle 2010: Sustainable Community BuildingNew mayor, new priority

Breaking down silosSub cabinet activity

Levy renewal – November 2009$145 million over 7 yearsFunding for preservation and new development

Federal funding – new Sustainable Community focus

Geographic focus on transit stationsFunding: preservation, new construction

Land: public – City, Sound Transit, Seattle Housing Authority

Land acquisition program

Incentive programs: property tax exemption, incentive zoning

Preservation: Meridian ManorNorthgate Light Rail

StationHUD-funded project –

nonprofit takeover: Housing Resources Group

109 units for seniors$3 million in Housing

Levy funds

Preservation: Holiday ApartmentsBroadway Light Rail

StationNonprofit purchase

of existing occupied building: Capitol Hill Housing

30 units of workforce housing

$2.5 million in Housing Levy and Commercial Bonus funds

New: Artspace @ Firestone SiteMcClellan Light

Rail StationNonprofit

purchase of Sound Transit site: Artspace

54 units of live/work space for artists

Requesting funding from City

New: Rose Street / Wolcott HomesRainier Beach Light

Rail StationNonprofit property

purchase – new construction: Housing Resources Group

71 units of workforce housing

$4.26 million in Housing Levy and HOME funds

New: Rose Street / Wolcott HomesWolcott Homes – Homestead Community Land

TrustSubdivision in foreclosure – back to FDIC15 affordable townhomes for first-time

homebuyers$1.45 million

acquisition loan; $750,000 down payment assistance

Included federal NSP funding

New: Cyndy’s Pancake HouseAurora Avenue

Bus Rapid Transit

Downtown Emergency Service Center

84 studios for chronically homeless individuals

$1.175 million acquisition loan

Barriers:Lack of affordable TOD sites

Lack of understanding that affordable TOD is important as private developers head for station areas and property values go up

Inadequate tools: funding, zoning, political will

Weakening nonprofit sector – reduced public funding