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<br /> ?x j u Executive Summary
<br /> Our region has a shared vision for a sustainable future that will benefit our people, our prosperity, and our planet. VISION
<br /> 2040, the central Puget Sound region's long-range plan for growth, transportation, and economic development, describes
<br /> the commitments, actions, and stewardship needed over many decades by many stakeholders to achieve far-reaching
<br /> goals. As the region grows to 5 million people—a more than 30 percent increase—by the year 2040, a key goal calls for
<br /> growth within existing urban areas and especially in compact,walkable communities that are linked by transit.
<br /> The region's recent commitments to invest over$15 billion in rapid transit(light rail, bus rapid transit,express bus,streetcar,
<br /> and commuter rail) present a once-in-a-lifetime opportunity to locate housing, jobs, and services close to these transit
<br /> investments, and to do so in a way that benefits surrounding communities. A region-wide coalition of businesses,
<br /> developers, local governments, transit agencies, and nonprofit organizations—the Growing Transit Communities
<br /> Partnership—has spent the last 36 months working together to create solutions that will encourage high-quality, equitable
<br /> development around rapid transit.
<br /> The Challenges
<br /> Growth, as envisioned in VISION 2040, should benefit all people by increasing economic development and access to jobs,
<br /> expanding housing and transportation choices, promoting neighborhood character and vitality, and improving public health
<br /> and environmental quality. But, this is easier said than done. In particular, this growth may magnify several challenges
<br /> currently facing the region:
<br /> , _ ,�, Living in and working in walkable,transit-served communities. Recent market studies show that there
<br /> 1. `'n is significant unmet demand for housingand located within walkingdistance of transit. Manypeople
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<br /> want to live and work in compact,complete,and connected communities, but investments in transit and in
<br /> r. transit station areas have fallen behind. Attracting growth to transit communities will require policies to
<br /> i , 1 . encourage more housing and jobs near transit along with investments in the infrastructure and services for
<br /> a growing population.
<br /> Housing choices for low and moderate income households near transit. Forty-three percent of the
<br /> "' .3: region's households make less than 80 percent of the area median income. However, most new market-
<br /> c= rate housing that is accessible to transit is unaffordable to these households. With new investment in
<br /> - `- transit communities, many lower-cost units are at risk of displacement. For the lowest income households,
<br /> r.`-. many of whom are transit dependent, the supply of subsidized housing is far short of the need. Building
<br /> mixed-income communities that meet these needs will require improved strategies to minimize displacement, and preserve
<br /> and produce diverse housing types affordable to a full range of incomes.
<br /> Equitable access to opportunity for all the region's residents.Analysis of indicators across the region
<br /> ffi. t' ` reveals that too many people do not have access to education, employment, mobility, health, and
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<br /> I ,% 1, neighborhood services and amenities.These community resources are the building blocks that create the
<br /> ` ',ill opportunity to succeed and thrive in life. Transit communities, with their access to the region's jobs,
<br /> institutions, and services are critical focal points for achieving greater equity for the region's diverse
<br /> residents. As these communities grow through public and private investment, equitable development will require targeted
<br /> community improvements and strategies to connect existing and future residents to greater regional resources.
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