Seattle is one of the cities that are growing rapidly in the US recording a growth of population by more than 6.9% in the last four years. It has also recorded significant improvements in real estate market resulting being ranked eighth, taking third position regarding development, and fourth based on investment (Nickels 6). With all these factors taken into consideration, Seattle presents a gateway to the other cities such as Boston and New York with more investors being attracted to the town.
Aim of the Project
The aim of the project is the following:
i. To develop affordable housing facilities and homes that will meet the needs of the rapidly growing Seattle city.
Objectives of the Project
i. With the improvements that are evident in the city, affordable housing needs to be taken as a forefront factor to ensure that all have access to affordable housing regardless of the social class Seattle being one of the fastest growing cities;
ii. Affordable housing will not only entice investors to settle in the area but also ensure the community has enough housing capacity that will solve future problems of high-cost house building.
Reason for the Difference
The dominance of private apartments in the city is the primary cause of the high costs of the houses within and in areas around. For instance, in the year 2014, the buying rate of the houses reduced from 51% to 44% in 2015 which was dodged by the external buyers holding back on the search of homes (Keith 137).
Solution Plan
Using the Mandatory Housing Affordability will lead to the development of new houses and homes in Seattle that are affordable (MHA 2017). Development of apartments in the city will create a new revolution in the market. This will not only give rise to the competition amongst the owners of houses, but also is prone to reduce the cost of house rents and homes.
The government through the department of housing and urban development programs provides funds that help in the process of subsidizing the costs of the houses to enable the low-income citizens to access the homes at an affordable price. Though the program is currently working, applying it is limited which has reduced access for most people. These apartments will be built near to the working areas of the individuals and then assigned regarding the type of job that one is involved in. Development of about 500 affordable housing per year will lead to a continued increase in the level of housing in the city (Nickels 56).
Support and Plan
With consideration that the rent for a one bedroom costs $1,800, the shifting of the costs by developing the new houses will reduce the cost to less than $1,500 immediately after finishing the project. Access to the amount from that set to build a new police station by half will help develop the first phase of the 500 houses which will proceed from there. The first phase of the project will begin in July 2018 and end by June 2019 while the second phase will start immediately, as shown in Table 1.
July 2018
Aug, Sept, Oct Nov & Dec 2018
Jan and Feb 2019
Mar, Apr and May 2019
June 2019
July, Aug, Sept, Oct, and Nov
Dec, Jan, Feb, Mar, Apr,
May and June
Site identification and purchase of the raw materials
Initialization of the construction
Finalizing the construction
Apartments ready for selling and leasing
Start of the second phase
Second phase construction initialization
Finalizing the process
1000 houses fully developed
Table 1. Work Plan
Works Cited
Erickson, David J. The Housing Policy Revolution Networks, and Neighbors. Urban Institute Press, Washington, 2009.
Implementing Mandatory Housing Affordability (MHA) Citywide. www.seattle.gov/council. August 2017. Assessed 3 June 2018.
Keith, Nathaniel S. Politics and the Housing Crisis since 1930. Universe Books, New York, 1973.
Nickels, Gregory J. Housing First Approach to Homeless Brings Hope to Hard Lives. Seattle, 2008.
