Quote:
Originally Posted by mhays
If it's anywhere near Downtown etc. the requirement would be at the high end of the range, and units tend to be more expensive to begin with since they're often concrete, land is expensive, historic protections, etc. The difference is greater (like you're noting for two bedrooms) so the subsidy is greater. The administrative side would be a cost, with variables in how onerous the process could be both during development and ongoing. The building's value would also be impacted by duration and conditions of the requirement. At least with the basic fee there's no ongoing process.
For residential projects, including the units in the building would be cheaper than paying the fees. Commercial projects have no such alternative.
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You're right.......for projects in DT Seattle, the law will cut more into profit margins. I still don't think it will deter development of projects.
As to your second comment, I thought this law applied only to residential projects. No?