Not housing news, but effective April 1, 2008, the sales and use taxes in King County will increase to from 8.9% to 9.0%. The additional one-tenth of a percent will go towards mental health or chemical treatment services. The sales tax for communities in non-RTA areas will be 8.6%.
See King County’s bulletin on the tax (PDF file).
The Master Builders Care Foundation is currently accepting applications for its May 17th Rampathon project which builds wheelchair ramps for disabled low-income homeowners in King and Snohomish Counties. Last year more than 400 volunteers constructed 25 ramps, bringing the total to over 200 ramps since 1993.
Applications are due to the Master Builders Care Foundation by Thursday, Feburary 28th. Click here for application information.
This morning the State House convened to review the condo conversion bill (HB 2014) which passed its third reading by a vote of 94 to 1. The House version of the bill:
On the other side of the aisle the State Senate will hold a public hearing on Tuesday, February 5th at 1:30 PM at 1:30 PM on January 22nd. The senate’s version (SB6411):
I have been in favor of some sort of change to the current requirements - 90 days notice and $500 towards low-income tenants - which is hardly anything. The cost to move and secure a new place to live is considerably more than $500. And, if you’re not low-income, you get nothing. But, I’m a little skeptical about placing limits on conversions. I’m a firm believer that the market will self-correct and adjust accordingly. And, it has.
1. “Repartmenting”
In the past six months, the slowing condo market has taken its toll in Seattle. At least three heavily promoted conversion projects have reverted, or repartmented, back to apartments. These include the Max in Greenwood as well as the Strata and Gables in West Seattle.
2. Repurposing
Another trend that we’re now seeing in Seattle is the repurposing of condominium projects to apartments. The most recent example was Expo62 in lower Queen Anne. However, it wasn’t the only one. The Landes on First Hill and the Chloe on Capitol Hill, both originally planned as condos, will be developed at apartments.
Also, there is speculation that more are on the way such as the recent announcement that the Domaine project on Queen Anne is currently up for sale as an apartment complex.
3. Constructing
Often overlooked is the new apartment boom that’s occurring in the Emerald City. Several high-rise apartment buildings are presently under construction or in development in downtown. These include The Olivian at 8th and Olive, Kinects on Minor at Stewart, the Aspira at Stewart & Terry as well as three additional high-rises on 2nd & Virginia and 3rd & Virginia, a twin-tower development at 6th & Lenora, and the massive 500+ unit 1200 Stewart project.
A number of smaller apartment projects are under construction around the Seattle Center including The Borealis (Denny & Dexter), Taylor 28 (Taylor & Denny) and the Bernard (Warren & John).
In the north end, The Tyee is currently under construction across from Green Lake, which joins the large apartment projects planned for the old Vitamilk (The Park 71) and Albertson’s (Alexan Green Lake) lots. And, in Greenwood, the old Leilani Lanes parcel is expected to be developed as apartments as well.
Capitol Hill will also see new rental inventory with the Packard (12th & Pine), The Pearl (15th & Madison) and the Agnes Lofts (12th & Pike). Additionally, two large apartment projects are planned on Broadway at Pine Street and the old QFC lot.
4. Fundless
The mortgage meltown and the evolving housing market have combined to dry up funding for conversions. Many developers, as reported by the Daily Journal of Commerce, are finding it difficult to obtain financing for conversions. Lenders are realizing that conversions are now too risky to fund. The heyday of mass conversions that we’ve experienced between 2005 and 2007 has passed.
The heart of the bills are necessary, namely the parts that softens the stress of displacement and provides relocation assistance for tenants. Though, artificially constricting conversions, which provide first-time homeownership opportunities, on the basis of a declining rental stock is simply unnecessary. Clearly, the market has adjusted as witnessed by the more than 1,000+ new apartment homes being built. The new apartments aren’t just for the wealthy, either. A number of projects are aimed towards the affordable apartment housing market.
Not housing related but I came across this article that I thought was innovative. Kyoritsu Seiyaku, a Japanese animal medicine manufacturer, started offering pet-owning employees a monthly pet allowance saying “everyone has the right to own a pet, but they also have the obligation to raise the pet for its whole life.”
http://news.bbc.co.uk/2/hi/asia-pacific/7172050.stm
When I volunteered at the Seattle Animal Shelter I was astounded by the number of people who surrendered their pets because they couldn’t afford them. Wouldn’t it be great if other companies followed suit.
While most of South Lake Union’s construction news have focused on glitzy office complexes and lifestyle condominiums, several affordable housing projects are also under construction or have been proposed for the area.
On the South-West of edge of SLU, Vulcan is currently constructing the Borealis Apartments. Of the 53 units available, 50 will be priced for those making 80% the median income.
Towards the Northend of the SLU district, a low-income senior housing project and an apartment for mentally-ill homeless persons are planned. The Low Income Housing Institute is developing the 6-story Cascade Senior Housing complex near Republican and Minor. The project includes 50 apartment homes for seniors (62 and older) who earn less than $27,250 per person/year. Construction is slated to begin in March 2008 with a 2009 completion date.
Cascade Senior Housing, image courtesy of Runberg Architecture
Nearby, the Downtown Emergency Service Center is planning a 6-story, 83-unit apartment complex to serve mentally-ill homeless adults. The DESC will begin construction around mid-2008. Both projects will include a library, computer labs, exercise facilities and common areas. They will also help assuage community concerns over the loss of affordable housing options for people in need who currently call the area home.
DESC, image courtesy of SMR
The mixture of housing options, businesses and recreation will help define SLU as a true urban center.
The South Lake Union Street Car will begin test runs on Monday, October 29th. To kick-off the street car tests, a press conference event is being held at 9 AM on the 29th. The mayor, representatives from SDOT and the manufacturer (from the Czech Republic) will be on hand.
The S.L.U.T., as it’s affectionately known, will begin operations in December and will cost $1.50 per ride. The current route extends from Fred Hutch to Westlake Center. I’m told rides will be free in December to celebrate its launch.
The American Planning Association (APA) released its 10 Great Streets and 10 Great Neighborhoods list. Among among the contenders the Pike Place Market district was selected as one of the 10 Great Neighborhoods in America.
The Pike Place Market neighborhood continues to lead by example. Its compact, pedestrian-oriented design and range of housing options served as the inspiration for the city’s Downtown Livability Plan, passed in 2006. Despite ongoing financial and other challenges, its community continues to fight to sustain its viability. It serves as a reminder that it is not just a mix of buildings that define a place but, rather, the mix of people that infuses a neighborhood with a distinct voice and personality of its own.
Read the full APA review of the Pike Place Market
The Master Builders Association of King County is hosting its second Tour of Homes this month. The tour will be held on three consecutive weekends (Friday - Sunday) from Noon to 6:00 PM between September 14th and September 30th.
The Tour of Homes spans both King and Snohomish Counties with properties (condos, single family, townhomes) ranging from $250,000 to $1,895,000. Guide books with property information and driving directions are available for free at QFC stores.
This Sunday (Sept 16th), the Friends of Denny Park will be hosting a neighborhood party at Denny Park from 10 AM to 6 PM. There will be live music, food, art, activities for the kids, and doggy giveaways provided by Scraps.
In addition, a grass-roots movement, Urban Dog Presence, will be on hand to promote the creation of a new dog park as part of Denny Park’s renovation project. As the SLU Gateway district transforms to a more livable neighborhood with many condo projects promoting urban dog amenities, it does become apparent the area needs a dog park.
Denny Park is Seattle’s oldest public park.
Getting ready for the Seafair Tourchlight Parade outside the office.
(Oops, banner’s a little crooked)
John L. Scott - Seattle Center Office in Belltown