  
|
 Seattle Homes Within Reach (Multifamily Tax Exemption) Program The Seattle Homes Within Reach program allows developers to receive
a property tax exemption on the residential portion of a development
for 12 years. In exchange, a certain number of the housing units must
be affordable for moderate-wage workers. The program is now available
in 39 target areas in Seattle. More ... Downtown Transferable Development Rights (TDR) Program The TDR Program is one way that developers of Downtown office buildings and hotels can achieve additional density. It helps Seattle achieve a more variable scale of buildings in Downtown by allowing density to be moved from one site to another. Owners of certified housing TDR sites can sell excess development rights to commercial developers and use the proceeds for renovation of the housing. Rental units that are preserved must remain affordable for households with incomes up to 50% of median income for 50 years. More . . . Downtown Commercial Bonus Program The Commercial Bonus Program allows additional density for office and hotel developments on sites zoned DOC-1, DOC-2, DMC 240, and DMC 340 in exchange for affordable housing and childcare for lower-wage workers. The housing and/or childcare can be built by the commercial developer or a financial contribution of $18.75 per square foot for housing and $3.25 per square foot for childcare may be made to the City for those purposes. More . . . For more information contact Laura Hewitt Walker at (206) 684-0429 or laura.hewitt@seattle.gov. Downtown Residential Bonus Program The Downtown Residential Bonus Program allows additional residential gross floor area and height in developments in exchange for affordable housing. The developer can provide affordable housing units in or adjacent to the new residential tower or make a financial contribution to the City to fund new affordable housing in Downtown. Affordable housing units are intended to primarily serve modest-wage service workers in Downtown. More . . . For more information contact Laura Hewitt Walker at (206) 684-0429 or laura.hewitt@seattle.gov. |