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Appendix G: Development Feasibility Everett Housing Action Plan G-12 Exhibit 10. City of Everett Development Regulations. PARAMETER R1 R2 UR4 Minimum lot area 6,000 sf 5,000 sf1 5,000 sf Maximum lot coverage 35% 40% - Minimum number of units 1 1 3 Maximum density 1 unit/6,000 sf (7.3 units/acre) 1 unit/3,750 sf (11.6 units/acre) None Minimum height (primary building) - - 2 floors Maximum height (primary building) 28 feet 28 feet Area specific (5 stories assumed) Minimum parking 2 spaces/unit2 2 spaces/unit2 1 space/unit (studio) 1 space/unit (1 BD) 1.5 space/unit (2 BD) 2 spaces/unit (3+ BD)3 1 Exception: In R-2 zones, minimum lot area for single-family dwellings with alley access is 4,500 sf. Also note that lot size averaging may result in individual lots that are smaller than this figure. 2 Exception: Three spaces per unit required with private drive access. 3 These values are for outside metro Everett. Source: City of Everett, 2021. Exhibit 11. Base Scenario Value of Land and Existing Improvements in Everett by Zone. COSTS R1 R2 UR4 Land value per acre $800,000 $1,100,000 $1,200,000 Improvement value per acre All properties $700,000 $750,000 $1,000,000 Redevelopable properties $200,000 $200,000 $800,000 Total property value per acre All properties $1,500,000 $1,850,000 $2,200,000 Redevelopable properties $1,000,000 $1,300,000 $2,000,000 Source: City of Everett, 2021; Snohomish County Assessor, 2021.