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Yes, but to be affordable at least at first there has to be a subsidy for those middle income people to be able to afford it. Either you directly pay developers
by taurath 8y ago
Yes, but to be affordable at least at first there has to be a subsidy for those middle income people to be able to afford it. Either you directly pay developers their profit that they don’t get by charging market rates (a subsidy), or they allow earners to get loans. Median price is 900k on the east side, and even at the top of middle income (124k, family of four) you can’t afford a house anywhere near that median. How do you fill that gap?
- jonknee 8y agoBecause they're not building single family homes in Medina? Multi family housing in various parts of the metro (including Snohomish county). The Seattle Times has more information including a bit more about geography: https://www.seattletimes.com/seattle-news/homeless/microsoft-pledges-500-million-to-help-develop-affordable-housing-in-seattle-and-on-eastside/ https://www.seattletimes.com/seattle-news/homeless/microsoft... The key is zoning and it sounds like they have some local buy-in from politicians (see the attached statement of mayors in that article). I'm skeptical that happens, NIMBYs have a way of stalling up zoning, but it's a still a step in the right direction.