will note the basis for home prices in this table are the KC assessor - which runs well behind market rate. will also note how out of date these numbers already are in just two years
today, a single family home in seattle is over $1 million.
is this for real?
will note that adding another townhome unit on LR zones does not make them affordable to middle class households.
it does make them absurdly unusable.
as well as inaccessible.
(some of the advisory committee are market rate townhome developers)
there are no Mandatory Housing Affordability fees for single family houses
really concerning red flags about this report
when you definitely don't know how to read a proforma
thread on why this won't be accessible to middle class households here:
well, the first part is - high land costs makes it nearly impossible to build family-friendly middle income housing.
however, increasing development capacity doesn't lower *land costs*
climate change denial
is a $500k 1-br affordable? a $900k townhouse? 🤔
oh look - our land and construction costs are so high - that even improving financing options doesn't make housing affordable to middle income households
anyway, it's not like this inadequate report, with outdated info - has any relevance today, with seattle rents climbing again, and metro area housing production numbers dropping like a brick...
30% of calc'd FAR of this back to back townhouse project is just... stairs
codes & regs & financing & poor construction quality make flats impossible at this scale
it's not insignificant. it's 1,300 s.f.
the opportunity cost of 4 separate townhomes over flats is basically an additional 3-BR unit.
imagine paying $850k for something like this - and knowing a third of your mortgage is just paying for stairs.
literally the dumbest sh*t i've seen in a minute.
this is exactly what harrell's comp plan is designed to induce.
it's not going to be affordable. it's not going to be accessible. it's going to continue to decimate biodiversity. it's going to reduce climate adaptation.