Incentive Zoning Money Talks!. 2 Seattle wanted... Developers to design projects to achieve certain...

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Incentive Zoning Incentive Zoning Money Talks! Money Talks!

Transcript of Incentive Zoning Money Talks!. 2 Seattle wanted... Developers to design projects to achieve certain...

Incentive ZoningIncentive Zoning

Money Talks!Money Talks!

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Seattle wanted . . .

• Developers to design projects to achieve certain public objectives – – Public open space– Mixed use development– Pleasing architecture– On-site day care– Interconnections with transportation system

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• So, if developers will accommodate public objectives, Seattle will give developers

• Additional development intensity, i.e.– More leasable floor area– In taller buildings

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Why do this?• Much cheaper to provide “incentives” for

private provision that to have public provision.

• With limited resources, public provision is probably not a realistic option.

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But . . .• Why should a developer have to “pay off”

the city in order to develop an office building that;– The market demands,– Is technologically sound, and– Is consistent with health, safety and welfare

as evidenced by the fact that the city will approve it?

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Seattle’s Washington Mutual Seattle’s Washington Mutual Tower, zoned for 27 stories Tower, zoned for 27 stories

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As of right27 stories

Affordable HousingContribution - add13 stories

TransitContribution - add1 story

Public Plaza –Add 2 storiesPublic Atrium –Add 1.5 stories

Public GardenTerraceAdd .5 stories

Day CareAdd 1 story

For sculptured top add 2 stories

Retail spaceadd 2 stories

For mechanicalspace 2 stories

Public escalatoradd 2.5 stories

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Incentives take the Incentives take the Washington Mutual TowerWashington Mutual TowerFrom 27 to 55 stories – From 27 to 55 stories – Seattle’s tallest buildingSeattle’s tallest building

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