Denver9/28_Rick Hooper

Housing Preservation and Transit-Oriented Development in Seattle
Rick Hooper, Acting Director
Seattle Office of Housing
September 28, 2010

Seattle 2010: Sustainable Community Building
New mayor, new priority
Breaking down silos
Sub cabinet activity
Levy renewal – November 2009
$145 million over 7 years
Funding for preservation and new development
Federal funding – new Sustainable Community focus

Geographic focus on transit stations
Funding: preservation, new construction
Land: public – City, Sound Transit, Seattle Housing Authority
Land acquisition program
Incentive programs: property tax exemption, incentive zoning

Preservation: Meridian Manor
Northgate Light Rail Station
HUD-funded project – nonprofit takeover: Housing Resources Group
109 units for seniors
$3 million in Housing Levy funds

Preservation: Holiday Apartments
Broadway Light Rail Station
Nonprofit 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 Site
McClellan Light Rail Station
Nonprofit purchase of Sound Transit site: Artspace
54 units of live/work space for artists
Requesting funding from City

New: Rose Street / Wolcott Homes
Rainier Beach Light Rail Station
Nonprofit 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 Homes
Wolcott Homes – Homestead Community Land Trust
Subdivision in foreclosure – back to FDIC
15 affordable townhomes for first-time homebuyers
$1.45 million acquisition loan; $750,000 down payment assistance
Included federal NSP funding

New: Cyndy’s Pancake House
Aurora 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

Denver9/28_Rick Hooper

by National Housing Conference & the Center for Housing Policy on Sep 29, 2010

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