{"id":1076,"date":"2007-09-10T10:09:05","date_gmt":"2007-09-10T17:09:05","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/2007\/09\/10\/taller-condos-for-middle-class-buyers\/"},"modified":"2007-09-10T10:09:05","modified_gmt":"2007-09-10T17:09:05","slug":"taller-condos-for-middle-class-buyers","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2007\/09\/10\/taller-condos-for-middle-class-buyers\/","title":{"rendered":"Taller Condos for Middle Class Buyers?"},"content":{"rendered":"

Just in time for the whole mess to unwind all on its own, the City of Seattle is poised to do something<\/em> about the lack of affordable (to buy) in-city homes for the middle class.<\/p>\n

\n

Developers might soon have to provide more apartments and condominiums that moderate-wage workers can afford if they want to put up taller residential buildings near downtown Seattle.<\/p>\n

Mayor Greg Nickels is considering a proposal to raise height limits on residential buildings in the Interbay, South Lake Union and South Downtown neighborhoods \u2014 on the condition that developers create some units for people who make too much money to qualify for government-subsidized housing, but not enough to buy one of the pricey condominiums going up downtown.<\/p>\n

The idea is to ensure a “stock of housing for the middle class,” said Deputy Mayor Tim Ceis. Although he expects some resistance from developers, he predicts they’ll ultimately go along. “We have a pretty progressive development community, and I think we’ll work this out with them soon,” Ceis said.<\/p>\n<\/blockquote>\n

I still think the government is pretty powerless to make significant changes to the housing affordability landscape. However, at least this plan is attacking the problem by increasing supply<\/em> (by leaning on the builders), as opposed to most programs that simply increase demand<\/em> (by pouring money into grant programs).<\/p>\n

(Amy Martinez, Seattle Times<\/a>, 09.09.2007<\/em>)<\/p>\n","protected":false},"excerpt":{"rendered":"

Just in time for the whole mess to unwind all on its own, the City of Seattle is poised to do something about the lack of affordable (to buy) in-city homes for the middle class. 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