Resolution 7700 - Laserfiche WebLink

1. Increasing Housing Variety Everett Housing Action Plan 12 more expensive because of the existing structure, and not likely feasible for a new project. This increases the value of a parcel on the market, and for lower-density development this would likely be too expensive for a new duplex or townhome project.  Marginal increases in density are likely to be a longer-term approach to densification in most neighborhoods. Given that the value of improvements on a site are a limiting factor for redevelopment of single-family housing, many neighborhoods will only experience new projects over time, when the value of a home declines to the point where it is feasible to sell and redevelop. Therefore, these strategies should be viewed with a longer-term perspective, since densification will likely only happen gradually over time.  Providing changes for areas with depreciated housing is essential to achieving increases in housing yields, however. Although changes with the housing stock and increases in housing will occur at a slower rate in these areas if development regulations are adjusted, implementing these changes can still be important. As older single-family homes depreciate, especially in a tight housing market, there will be pressure in some neighborhoods to replace them with new and more expensive single-family homes. If housing is turned over in this way and the improvement value on a parcel substantially increases, it will be very unlikely to redevelop these sites for decades to come. Therefore, if any increases in the housing stock are to be achieved, it should be accomplished before this type of redevelopment occurs. Summary of Findings and Policy Basis Policy Basis The current housing needs and affordability issues in the region have resulted in updates to housing policies giving strong guidance to local jurisdictions to support a range of housing varieties in single family zones. These policies are reflected in the following guidance: • Housing Affordability Regional Taskforce – Snohomish County The Five-Year Action Plan Goal 1 calls for promotion of greater housing growth and diversity of housing types at all levels of affordability. Policy and regulations strategy 1.A.6 identifies specifically as an action to facilitate housing supply: “1.A.6 Increase housing variety allowed at a range of affordability levels in single-family zones, in areas with connections to jobs, and along transit corridors, including consideration of zoning for duplex, triplex, 4-plex, courtyard apartments, etc. • The Growth Management Act – ESHB 1923 (2019) In 2019, the state legislature enacted ESHB 1923 encouraging cities to take a series of actions in order to increase residential building capacity and offering housing planning grants to local jurisdictions. The legislation and grant requirements specify that a jurisdiction may review opportunities to allow at least one duplex, triplex, or courtyard apartment on each parcel in one or more zoning districts that permit single-family residences.