Access to transit is an important amenity, especially in lower-income communities. But it’s also considered a valuable commodity for people who can afford it: study after study shows that being near transit can drive up property values.
This has been especially true of housing near Link Light Rail, which usually gets from point A to point B faster than a bus would.
Fortunately, when voters approved Sound Transit 3 last year, the package included some funding for affordable transit-oriented development (TOD). Other city and state programs are also working toward putting affordable housing near transit.
Unfortunately, a few projects like this aren’t enough to combat the rising housing cost burden in Seattle. For example, the first round of financing from Sound Transit 3 is expected to build 500 to 700 affordable units—not even half of the 2,100 lottery entries for a spot at Othello Plaza.
But they’re a start. Here are five recently-completed or in-progress developments that help make living near transit more affordable.
It’s Curbed’s first-ever Transportation Week! This week is all about how we get around in our favorite cities. Check out all of Curbed’s Transportation Week coverage here.Read More