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With dozens of business buildings unused or underused in Seattle, metropolis officers are proper to discover methods to fill these areas and produce individuals again into the town, primarily downtown.
Changing some business buildings into residential areas might make sense. That’s the plan Mayor Bruce Harrell proposed to the Metropolis Council as a part of his Downtown Activation Plan.
Many business areas emptied throughout the pandemic when staff started working remotely, leaving downtown retailers and business landlords in want of assist. The result’s a downtown emptiness price of about 20% with fewer staff patronizing companies except for vacationers.
Housing advocates see the glut of vacant workplace house as a part of an answer to the nationwide housing disaster. And it could possibly be that for Seattle.
Such conversions may be rare and challenging as a result of some giant buildings will not be designed in methods conducive to residential items.
The opposite consideration for the town is to go rigorously in giving up a significant device in creating inexpensive housing simply to lure builders to transform buildings.
Harrell is proposing to exempt builders from taking part within the metropolis’s Necessary Housing Affordability program, which doubtlessly would forfeit thousands and thousands of {dollars} for inexpensive housing. He additionally proposes providing exemptions to constructing design guidelines, permitting rezones of sure areas of downtown to accommodate taller buildings and different incentives.
Beneath MHA, builders who construct residences and condos in sure areas are required to incorporate inexpensive items or pay right into a fund devoted to constructing inexpensive housing.
The fund has been profitable for the town, which wants greater than 10,000 items of inexpensive housing. In 2021, it generated $75 million and funded 990 residences.
In 2022, Seattle used $77.5 million in MHA {dollars} to assist fund 902 inexpensive residences and 30 houses.
If the town will help builders lower by way of crimson tape and forms, it ought to. Harrell’s plan builds off the state Legislature’s approval of Senate Bill 6175, which can permit the town to determine a gross sales and use tax deferral for conversion of a business constructing to inexpensive housing.
Changing business buildings into non-public dwellings will change the appear and feel of neighborhoods, which in some areas could be a welcomed transformation. And, extra individuals will assist downtown proceed its restoration.
That’s laudable aim, however the stream of funding that has efficiently constructed tons of of inexpensive houses serving to these in want of housing shouldn’t be forfeited frivolously.
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