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Multifamily Property Tax Exemption (MFTE) Program

The MFTE program allows developers to receive a property tax exemption on the residential portion of a development for 12 years. In exchange, a certain number of the housing units must be affordable for moderate-wage workers. The tax exemption is available in 39 target areas in Seattle. More ...

For more information contact Amy Gray at (206) 684-0262.

Land Use Code Incentives — Residential Development

Residential Bonus: Extra floor area above the base height limit may be achieved for residential developments in exchange for affordable housing. Developers can build affordable housing as part of their development or, in certain zones, make a contribution of approximately $19 per bonus square foot to the City to fund new affordable housing. The affordable housing is intended to primarily serve Seattle’s modest-wage workers. The Residential Bonus Program is currently available in midrise and highrise zones, plus in downtown on sites zoned DOC-1, DOC-2, DMC 240 and DMC 340, and in the Dravus neighborhood on sites zoned SM/D/40-85. More . . .

For more information contact Laura Hewitt Walker at (206) 684-0429.

Land Use Code Incentives — Commercial and Industrial Development

Extra nonresidential floor area above the base floor area ratio (FAR) may be achieved for office, hotel or certain other developments through commercial or industrial bonus, transferable development rights (TDR), and on-site amenities.

Commercial or Industrial Bonus: This option enables developers achieve additional FAR in exchange for housing and childcare affordable to lower-wage workers. The housing and/or childcare can be provided by the developer or a contribution of $18.75 per bonus square foot for housing and $3.25 per bonus square foot for childcare facilities may be made to the City for those purposes. The Commercial Bonus Program is currently available in downtown on sites zoned DOC-1, DOC-2, DMC 240 and DMC 340; the Industrial Bonus Program is currently available in South Lake Union IC zones in the area shown on Exhibit 23.50.051.A. More . . .

For more information contact Laura Hewitt Walker at (206) 684-0429.

Transferable Development Rights (TDR): This option helps Seattle maintain a more variable scale of buildings in downtown and South Lake Union neighborhoods by allowing density to be moved from one site to another. Owners of certified TDR sites — ones with low-income housing, major open space, landmark buildings or major performing arts facilities — can sell excess development rights to commercial developers and use the proceeds for preservation of those priority uses. More . . .

For more information contact Laura Hewitt Walker at (206) 684-0429.