Seattle’s big bet on a short-term break for developers just skidded to a halt.
Mayor Katie Wilson on Monday hit pause on an administration plan to give builders a two-year, steep cut to Mandatory Housing Affordability fees after a key nonprofit coalition yanked its support, leaving dozens of stalled projects in limbo. The last-minute move landed just as negotiators were wrapping up a controversial “housing accelerator” that backers said could jolt frozen projects back to life in the face of high costs and rising interest rates. With the pause, Seattle is right back in the middle of a familiar fight over how to boost new housing while still paying for deeply affordable homes.
Wilson’s office opted not to send forward legislation that would have created a temporary break on MHA fees, as reported by the Puget Sound Business Journal. Negotiations had been underway for months, and the Business Journal reports that a sudden loss of support from a major stakeholder helped trigger the pullback. With the plan off the table for now, any shot at a summer vote is gone, meaning the City Council will not take it up this month…