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Denver9/28_Rick Hooper


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Presentation from Partners in Innovation Policy Forum in Denver, CO on September 28, 2010

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Denver9/28_Rick Hooper

  1. 1. Housing Preservation and Transit-Oriented Development in Seattle<br />Rick Hooper, Acting Director<br />Seattle Office of Housing<br />September 28, 2010<br />
  2. 2. Seattle 2010: Sustainable Community Building<br />New mayor, new priority<br />Breaking down silos<br />Sub cabinet activity<br />Levy renewal – November 2009<br />$145 million over 7 years<br />Funding for preservation and new development<br />Federal funding – new Sustainable Community focus<br />
  3. 3. Geographic focus on transit stations<br />Funding: preservation, new construction<br />Land: public – City, Sound Transit, Seattle Housing Authority<br />Land acquisition program<br />Incentive programs: property tax exemption, incentive zoning<br />
  4. 4. Preservation: Meridian Manor<br />Northgate Light Rail Station<br />HUD-funded project – nonprofit takeover: Housing Resources Group<br />109 units for seniors<br />$3 million in Housing Levy funds <br />
  5. 5. Preservation: Holiday Apartments<br />Broadway Light Rail Station<br />Nonprofit purchase of existing occupied building: Capitol Hill Housing<br />30 units of workforce housing<br />$2.5 million in Housing Levy and Commercial Bonus funds<br />
  6. 6. New: Artspace @ Firestone Site<br />McClellan Light Rail Station<br />Nonprofit purchase of Sound Transit site: Artspace<br />54 units of live/work space for artists<br />Requesting funding from City<br />
  7. 7. New: Rose Street / Wolcott Homes<br />Rainier Beach Light Rail Station<br />Nonprofit property purchase – new construction: Housing Resources Group<br />71 units of workforce housing<br />$4.26 million in Housing Levy and HOME funds<br />
  8. 8. New: Rose Street / Wolcott Homes<br />Wolcott Homes – Homestead Community Land Trust<br />Subdivision in foreclosure – back to FDIC<br />15 affordable townhomes for first-time homebuyers<br />$1.45 million acquisition loan; $750,000 down payment assistance<br />Included federal NSP funding<br />
  9. 9. New: Cyndy’s Pancake House<br />Aurora Avenue Bus Rapid Transit<br />Downtown Emergency Service Center<br />84 studios for chronically homeless individuals<br />$1.175 million acquisition loan<br />
  10. 10. Barriers:<br />Lack of affordable TOD sites<br />Lack of understanding that affordable TOD is important as private developers head for station areas and property values go up<br />Inadequate tools: funding, zoning, political will<br />Weakening nonprofit sector – reduced public funding<br />