Ordinance 3613-18 - Laserfiche WebLink

Based on the foregoing, the housing, population and employment capacity is shown in the tables below. Table 2:Housing,Population and Employment Capacity of Metro Everett Economic Units without Height Incentive UR UM ULI TOTALS Residential Units 6,236 21,391. 772 28,399 Population 10,602 36,365 1,312 48,279 Employment 556 4,105 3,702 8,363 Table 3:Housing,Population and Employment Capacity of Metro Everett Economic Units with Height Incentive UR UM ULI TOTALS Residential Units 8,344 44,972 1,173 54,489 Population 14,185 76,452 1,994 92,631 Employment 744 11,152 5,741 17,636 Growth Targets The capacity for housing, population and employment far exceeds the market evaluation that the city had completed in 2016. For example, the housing market showed a high demand for just 2,860 housing units in the next twenty years, compared to a potential capacity of 28,399 to 54,489 units. The office market analysis showed just 405,016 square feet of office demand in twenty years, but an employment capacity of nearly 6.5 to 12 million square feet of gross floor area that might be used for employment. Instead of assuming all that residential capacity would be developed, staff used the PSRC's aspirational method to develop a 2035 population target of 22,000 residents in Metro Everett. This represents an increase of 15,297 residents since 2014, which is approximately 28% of the citywide population growth target increase of 55,200 from 2017 to 2035. This translates into an additional 9,591 housing units in Metro Everett, or approximately 36% of the city-wide total additional housing units from 2017 to 2035. Appendix B,Metro Everett Land Capacity 7 August 29,2018