Seattle, WA -Built Capital

Built capital is defined as the stock of buildings (housing, retail stores, factories) and infrastructure (road, water, sewers)in a locality (Green & Haines). Built capital is important to a community because it provides a community with the essential necessities that a community needs to be both livable and thriving.   

In Seattle built capital is prevalent just like in many other major cities. Like most of the United States Seattle’s infrastructure is ageing making it increasingly unsafe. Seattle is also suffering from a lack of affordable housing. The vacancy rate in Seattle is 6.4% making it hard for people to find housing that they can afford. The median gross rent of a one bedroom apartment in the city is $1,096 compared to the median gross rent in the US of $810 making it 1.35% more expensive to just live in seattle compared to the U.S. on average (factfinder). A community based organization that is working on improving built capital in Seattle is the Seattle city council. The city council created a program called Housing Affordability Livability Agenda (HALA) with the goal of improving the lack of affordable housing in seattle. They aim to create 50,000 new housing units in the next decade with 20,000 units specifically for people with low and moderate incomes. These units are separated into five different categories mandatory inclusionary housing performance, capital investments, preservation property tax exemption, new construction MFTE (net new units) and public properties/ planned residential developments (Seattle.gov).

Citations:

Data Access and Dissemination Systems (DADS). (n.d.). American FactFinder. Retrieved December 02, 2016, from https://factfinder.census.gov/faces/nav/jsf/pages/index.xhtml

Green, G. P., & Haines, A. (2016). Asset Building & Community Development (4th ed.). Los Angeles, CA: SAGE

Housing Affordability and Livability. (n.d.). Retrieved September 12, 2016, from http://www.seattle.gov/hala