by Jon Lisbin
The Seattle PI (remember them) takes a critical look at the timing of the City's proposed Mandatory Affordable Housing program (MHA). I was particularly dismayed at this contradiction in perception and reality, not to mention the trend lines:
"Johnson was also quick to point out that much of the current boom is in commercial development, with residential having stayed more consistent with historical figures. According to the Downtown Seattle Association’s midyear report, residential development is currently breaking records. Last year, 3,500 residential units were completed -- a new record -- and with 12,000 units added since 2010 and 7,500 still under construction, downtown alone has seen a 44 percent increase in housing stock since 2010, the report found. What’s more, 20,000 new units are scheduled for completion after 2017."