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Growing Transit Communities Strategy <br /> In 2013, Everett entered into a compact with other Puget Sound communities which recognized that the cost burden of housing <br /> and transportation could be substantially reduced by locating affordable housing in close proximity to transit. The Growing <br /> Transit Communities Strategy articulated three goals to direct progress toward creating thriving and equitable transit <br /> communities: <br /> • Attract more of the region's residential and employment growth to high capacity transit communities <br /> • Provide housing choices affordable to a full range of incomes near high-capacity transit <br /> • Increase access to opportunity for existing and future residents of transit communities <br /> Policies and Actions <br /> Adopted regional and city housing policies provide a solid framework for housing in Metro Everett. Rather than duplicate those <br /> policies, the Metro Everett housing policies and actions focus more specifically on housing issues applicable to Metro Everett. <br /> Increasing Housing Supply for All Incomes <br /> Early in the planning process, a goal was proposed to add another 1,000 units of market rate housing in Metro Everett over the <br /> next six years. Considering the pace of housing development over the past ten years, and the market study done by Leland <br /> Consulting Group, this goal seems achievable but ambitious in its delivery schedule. Additional market rate housing, provided at <br /> a quicker pace, will have a significant benefit to the business community and cultural arts that will grow to enhance the residential <br /> development. <br /> While market rate housing would be a high priority, so is the need for housing to serve low-income households. Unless the <br /> current ratio of low-income households shifts significantly, (55% of Everett households are low-income), a healthy mix of housing <br /> would include nearly equal number of low-income and market rate housing units added in Metro Everett. <br /> H-I: Provide incentives (e.g. financial and zoning) to encourage development of 1,000 units of market rate housing. Once <br /> this target is achieved, reassess whether continued incentives are necessary. <br /> Chapter 6,Housing 3 August 29,2018 <br />