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Seattle is in the final stages of adopting revisions to its Comprehensive Plan which is being called the “One Seattle Plan”. At a high level, the plan is a “roadmap for where and how Seattle will grow and invest in communities over the next 20 years”. It’s a very large, all encompassing plan impacting housing, utilities, land-use, economic development, climate and environment, etc.
Part of the plan is being mandated by four new bills passed in the WA State legislature intended to increase housing and address our housing affordability crisis state-wide. All cities must make changes to meet the requirements of the bills by June 2025.
Under the bill, in Seattle, bill HB110 requires zoning that allows:
- At least four units on all residential lots
- At least six units on residential lots within a quarter mile of major transit stops (such as light rail and bus rapid transit)
- At least six units on residential lots if two units are income-restricted affordable housing
These are the changes I’m most interested in as a homeowner and real estate agent. As builders tear down older houses to make way for up to 6 housing units on a lot, will the price of a traditional single-family homes increase or lose value if they’re stuck between a lot of new developments? How will property taxes be impacted if the assessed value is based on ‘best use of the property’ and the best use is to have 4 units on the lot?
No doubt, the changes will happen at different rates in different parts of the city. And the overall, global economy will also impact how quickly these changes are made. I’m thinking about the tariffs on lumber and the impacts on the home building workforce as “he who shall not be named” continues wreak havoc.
