City of Everett DRAFT HOUSING ACTION PLAN JUNE 2021 Acknowledgements [ To be completed in final Action Plan ] Acknowledgements Everett Housing Action Plan i Executive Summary [ To be completed in final Action Plan ] Acknowledgements Everett Housing Action Plan ii Table of Contents Acknowledgements............................................................................................................................ i Executive Summary ........................................................................................................................... ii Table of Contents ............................................................................................................................. iii Introduction ...................................................................................................................................... 1 Background ................................................................................................................................... 1 Purpose and objective ................................................................................................................... 1 Summary of the Housing Needs Assessment (HNA) ........................................................................ 2 Process ......................................................................................................................................... 3 Rethink Housing Action Plan Process ................................................................................................. 3 Rethink Housing Action Plan Advisory Committee ............................................................................. 3 Public Engagement Activities .............................................................................................................. 4 Connections with Housing Policy and Other City Initiatives ............................................................ 4 Housing Policy System ........................................................................................................................ 4 Affordable Housing Context ............................................................................................................... 5 Outline of the Document ............................................................................................................... 8 1. Increasing Housing Variety......................................................................................................... 9 Introduction .................................................................................................................................. 9 Background and Findings ............................................................................................................... 9 Overview ............................................................................................................................................. 9 Housing Need Assessment and Prior City Work ............................................................................... 10 Summary of Feedback from Public Engagement. ............................................................................. 11 Economic and Feasibility Analysis Summary .................................................................................... 11 Summary of Findings and Policy Basis .............................................................................................. 12 Recommendations ...................................................................................................................... 15 Short-term Recommendations ......................................................................................................... 15 Medium-term Recommendations .................................................................................................... 17 Long-term Recommendations .......................................................................................................... 18 Acknowledgements Everett Housing Action Plan iii 2. Development on Urban Corridors ............................................................................................ 19 Introduction ................................................................................................................................ 19 Overview ........................................................................................................................................... 21 Housing Needs Assessment and Prior City Work ............................................................................. 21 Summary of Feedback from Public Engagement .............................................................................. 24 Economic and Feasibility Analysis Summary .................................................................................... 24 Summary of Policy Basis and Findings .............................................................................................. 25 Recommendations ...................................................................................................................... 27 Short-term Recommendations ......................................................................................................... 27 Medium-term Recommendations .................................................................................................... 27 Long-term Recommendations .......................................................................................................... 29 3. Transit-Oriented Communities ................................................................................................. 30 Introduction ................................................................................................................................ 30 Background and Findings ............................................................................................................. 36 Overview ........................................................................................................................................... 36 Housing Need Assessment and Prior City Work ............................................................................... 36 Public Engagement ........................................................................................................................... 36 Economic and Feasibility Analysis Summary .................................................................................... 37 Summary of Policy Basis and Findings .............................................................................................. 38 Recommendations ...................................................................................................................... 41 Short-term Recommendations ......................................................................................................... 41 Medium-term Recommendations .................................................................................................... 41 Long-term Recommendations .......................................................................................................... 43 4. Affordability and Displacement ............................................................................................... 45 Introduction ................................................................................................................................ 45 Review of Housing Displacement ..................................................................................................... 45 Equity in Housing .............................................................................................................................. 46 Support for Affordable Housing ........................................................................................................ 46 Background and Findings ............................................................................................................. 47 Overview ........................................................................................................................................... 47 Housing Needs Assessment .............................................................................................................. 48 Acknowledgements Everett Housing Action Plan iv Summary of Feedback from Public Engagement .............................................................................. 48 Policy Basis ........................................................................................................................................ 49 Recommendations ...................................................................................................................... 51 Short-term Recommendations ......................................................................................................... 51 Medium-term Recommendations .................................................................................................... 52 Long-term Recommendations .......................................................................................................... 54 Implementation .............................................................................................................................. 55 Overview .................................................................................................................................... 55 Key Implementation Steps..........................................................................................................