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

1. Housing Preservation and Transit-Oriented Development in Seattle Rick Hooper, Acting Director Seattle Office of Housing September 28, 2010

2. Seattle 2010: Sustainable Community Building New mayor, new priority Breaking down silos Sub cabinet activity Levy renewal – November 2009 $145 million over 7 years Funding for preservation and new development Federal funding – new Sustainable Community focus

3. Geographic focus on transit stations Funding: preservation, new construction Land: public – City, Sound Transit, Seattle Housing Authority Land acquisition program Incentive programs: property tax exemption, incentive zoning

4. Preservation: Meridian Manor Northgate Light Rail Station HUD-funded project – nonprofit takeover: Housing Resources Group 109 units for seniors $3 million in Housing Levy funds

5. Preservation: Holiday Apartments Broadway Light Rail Station Nonprofit purchase of existing occupied building: Capitol Hill Housing 30 units of workforce housing $2.5 million in Housing Levy and Commercial Bonus funds

6. New: Artspace @ Firestone Site McClellan Light Rail Station Nonprofit purchase of Sound Transit site: Artspace 54 units of live/work space for artists Requesting funding from City

7. New: Rose Street / Wolcott Homes Rainier Beach Light Rail Station Nonprofit property purchase – new construction: Housing Resources Group 71 units of workforce housing $4.26 million in Housing Levy and HOME funds

8. New: Rose Street / Wolcott Homes Wolcott Homes – Homestead Community Land Trust Subdivision in foreclosure – back to FDIC 15 affordable townhomes for first-time homebuyers $1.45 million acquisition loan; $750,000 down payment assistance Included federal NSP funding

9. New: Cyndy’s Pancake House Aurora Avenue Bus Rapid Transit Downtown Emergency Service Center 84 studios for chronically homeless individuals $1.175 million acquisition loan

10. Barriers: Lack of affordable TOD sites Lack of understanding that affordable TOD is important as private developers head for station areas and property values go up Inadequate tools: funding, zoning, political will Weakening nonprofit sector – reduced public funding