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Nat Levy
Real Estate Reporter
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February 20, 2014

Real Estate Buzz: Most developers not using extra density program

By NAT LEVY
Real Estate Reporter

A majority of developers have decided not to use a city program that allows greater height and density on projects downtown and in South Lake Union in exchange for putting low-income housing in new projects or paying fees that go to other low-income housing projects.

According to data from the Seattle Office of Housing, only 38 percent of eligible projects have used the extra height and density. Almost all developers who are using the extra density chose to pay fees rather than build low-income units in their projects.


 
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