Washington’s ‘Upzoning’ Act wants to expand the housing stock
The so-called “Upzoning Law” received Bipartisan support despite a well-known opposition from some Republicans. But the leader of the minority party of Washington was also a supporter and said that too many restrictions in land use infringed the rights of owners to develop their property as they consider necessary.
While an earlier version of the bill was looking for an outright prohibition on exclusive exclusive zoning plans of single -family homes, the final version was given a more measured approach in a way that, according to lawyers, could still have a positive influence on the housing stock of the state.
In the light of the law that comes into effect in July, one NBC News partner In Seattle, with area brokers and developers of the area talked about the possible impact that it could have on the availability of homes in the entire state.
“The feeling of home ownership is not as driven in people as before, but it is starting to come back,” Tom Sketaris, a Seattle -based real estate agent, told The Outlet. “We see more inventory, especially on the new construction side of things. So there is that ability to not rent and give your money away to someone else.”
Dean Jones, CEO of the largest Sotheby’s International Realty Affiliate in the Pacific Northwest also brought an optimistic tone about the potential impact of the bill.
“House Bill 1110 is going to allow a completely new generation of homeowner and actually offers a reset button for those who may have missed the last run real estate in the last 10 years,” said Jones.
Todd Karam, director of customer relationships at the local developer Access characteristicsdescribed some of the current activity of the company as the ‘future’ of homes in the state.
He mentioned projects such as one in West Seattle with six houses of 800 square feet on a plot of 5,500 square feet. Each house has two bedrooms and 1.5 bathrooms and lists for around $ 500,000. That price is approximately $ 1 million lower than a comparable single -family home in the same part of the city.
“We build what we want to see and what we think is the future of building,” said Karam. “This is what not only builders want, but also what end users want, and it is about efficiency.”
Part of the reason that this can make a difference in an area such as Seattle amounts to the high costs of the area. The need for inventory is clashing with limited availability of land, allowing reimbursements and construction costs, be the report.
The new law will take effect in July after other recent steps of the state to tackle housing issues.
Gov signed earlier this week. Bob Ferguson (D) A package of 10 bills that specifically try to tackle housing problems. These include a controversial bill for rental caps, exemption from real estate tax for veterans, condominium construction and the stimulation of development through changes in parking instructions.
