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<br /> Page 125 <br />Everett 2044 Housing Element Appendix <br />Housing for Economic Segments <br />Housing supply, choice, and affordability were core organizing principles for the periodic update from the <br />scoping phase onward. Accordingly, the development capacity under the growth alternatfves and the <br />preferred alternatfve have the necessary flexibility to allow for all economic segments, from emergency <br />housing to homes affordable only to the highest-income households. <br />The Washington Department of Commerce Guidance for Updatfng Your Housing Element lays out <br />assumed affordability levels for the land capacity analysis. Everett is a moderate-cost community that is <br />antfcipatfng higher-cost high-rise building types to become more feasible in the planning period. <br />The following table connects the assumed affordability level for capacity analysis to both modeled <br />housing development and theoretfcal housing capacity from this land capacity analysis. The assumed <br />affordability levels from Exhibit 12 of the Commerce guidance are used for all except high-rise, which is <br />drawn from Exhibit 13. <br /> <br />Modeled <br />Housing Units <br />Developed <br />Theoretfcal <br />Housing Unit <br />Capacity <br />Assumed <br />Affordability <br />Level for <br />Capacity <br />Analysis <br />Allows <br />Shelter? <br />High-rise Metro Core (up to 25 floors) 2,805 10% 31,656 5% Moderate Yes <br />High-rise (up to 15 floors) 11,647 43% 250,414 39% Moderate Yes <br />Mid-rise (up to 7 floors) 3,434 13% 171,714 27% <br />Low and <br />PSH <br />Yes <br />Low-rise (up to 4 floors) 5,777 21% 95,983 15% <br />Low and <br />PSH <br />Yes <br />Neighborhood Residentfal 2,377 9% 94,503 15% Moderate No* <br /> 26,901 644,270 <br />*Except on property owned or controlled by a religious organizatfon <br />The following table summarizes the modeled and theoretfcal housing unit capacity for economic <br />segments of concern for housing affordability. Between 58% and 63% of the city’s capacity can be <br />assumed to be available for development of housing units affordable to moderate income households, <br />compared to the city’s target of 27% of its new housing affordable to that segment. Between 34% and <br />42% of the city’s capacity can be assumed to be available for development of housing units affordable to <br />low-income households, compared to the city’s target of 16% of its new housing affordable to that <br />segment. Shelters are allowed in all zones categorized as low-rise or higher, providing many <br />opportunitfes to add shelter beds as funding is identffied. <br />Economic Segment Growth Target <br />Modeled Housing <br />Units Developed <br />Theoretfcal <br />Housing Unit <br />Capacity <br />Moderate-Income (>80-120% AMI) 10,419 27% 16,829 63% 376,572 58% <br />Low-Income (0-80% AMI) and PSH 8,775 16% 9,211 34% 267,697 42% <br />Shelter 2,383 23,663 88% 549,767 85% <br />