The VWP Real Estate team will guide you through the Housing Affordability and Livability Agenda’s most important phase:
Mandatory Housing Affordability (MHA)
How MHA can positively affect you and this city:
MORE OPTIONS FOR HOMEOWNERS
With recent zoning changes you may now qualify for a chance to develop your land. This means you have more buyers to pick from, more offers to consider, and a chance to earn a higher return on your property.
MORE AFFORDABLE HOUSING
Create quality affordable housing that is rent-restricted for low income people but will benefit all new buyers. An influx of cheaper housing will lower the median price for any home in or around Seattle.
MORE HOUSING CHOICES
Increase the overall number of market rate homes in the city. Create homes ranging in size and price so there are equal amounts of home ownership opportunities for every socioeconomic status in Seattle.
MINIMIZE IMPACT OF DEVELOPMENT
Minimize the impact of new development on current neighborhood character and limit the displacement of existing residents. Ensure new development is centered around parks, schools, and public transit.
If want to know about how this rezone affects your property and your city, consult with VWP Real Estate team and we’ll help answer any questions you have!
FIND YOUR NEW ZONE
Fill out the form below and we’ll let you know your current zoning. You’ll also receive the “MHA IMPACT PACKET” explaining everything you need to know about this recent change.
Map is a close representation of MHA zoning. For exact information on zoning, please contact one of our team members or complete the form above.
Why This is Important: Population and costs of housing in Seattle have always been on the rise, while the availability of housing seems to stay on a constant decline. We simply cannot continue this trend, leave the city as is, and expect affordable homes to appear for people who want to live here. There must be a change we are all a part of. That change was implemented by the city in 2014 with the establishment of HALA, and then again, more recently in 2019, with the new city-wide requirement of MHA. Below we will help explain these two significant changes and how they will help create a brighter future for Seattle.
Housing Affordability and Livability Agenda: HALA is a comprehensive and multi-pronged approach to create an affordable and livable city. In September of 2014, a 28 member Advisory Committee was instated by the Mayors Office and City Council, charged with the sole purpose of increasing the affordability and availability of housing in our city (Housing Affordability and Livability Advisory Committee). Consisting mainly of community leaders and local housing experts, this committee deliberated for 5 months before publishing their finalized report of 65 recommendations for the city. An essential piece of this report was MHA.
Mandatory Housing Affordability: MHA requires new development and commercial real estate to either incorporate affordable housing into their construction, or contribute hundreds of thousands of dollars to an affordable housing city fund. Over the next 20 years, this will raise tens of millions of dollars and provide well over 7,000 new rent-restricted homes for low-income people, in addition to creating thousands of new jobs. Seattle has implemented this requirement by rezoning high density areas (HDA’s) to allow for larger development and a greater range of housing opportunities. These HDA’s are typically already located near business hubs and centers of public transportation, with pre-existing infrastructure that supports a larger population and provides a higher quality of life. By increasing the variety of housing opportunities in these HDA’s, you allow for every type of person to have access to this elevated lifestyle. These regulations will also help maintain current neighborhood character outside of HDA’s, will minimize the overall environmental impact of new construction, and hopefully, create more loving, accepting, and diverse communities throughout our city.
What Home Owners Need to Know: As a bonus, decreasing the size and density restrictions on your home opens the door to a whole new pool of buyers! This could exponentially increase the price of your home and your ability to positively affect your city! Not only has your home become more valuable, but now selling to a developer directly contributes to the City’s efforts to create more affordable housing. So, if you are are thinking of remodeling, listing, or selling your home, consult with Windermere’s VWP Real Estate team for the best no pressure advice on how to support low income housing and maximize the potential return on your property.
Benefits of HALA and MHA Summary:
- Create more affordable housing that is rent-restricted for low-income people.
- Create supportive housing and reduce socioeconomic barriers
- Create more job opportunities for years to come
- Require developers to contribute hundreds of thousands of dollars to a city fund that supports affordable housing
- Increase the supply of market-rate housing to address upward pressure on housing costs associated with low housing inventory
- Minimize displacement of existing residents
- Support more housing choices, ranging in size and price, including ADU’s, townhomes, rowhomes, and apartment complexes, ensuring there is a home for everyone.
- Develop more opportunities for people to live near parks, schools, and public transit minimizing environmental impact.
- Minimize the impacts of new development on existing neighborhood character.
- Coordinate growth with infrastructure investments ensuring sustainability and equitability.
- Increase the potential sale price of your home.