Abstract
In Seattle, the past decade of job and population growth dwindled housing affordability and caused a record crisis of displacement and homelessness. The city’s home prices accelerated beyond the means of working-class families, and new construction was dominated by rental housing that offers residents no long-term cost stability or tenancy guarantee. The City of Seattle hopes to see thousands of affordable homes built in the next decade to address the crisis. Limited Equity Cooperatives (LECs) are a model where residents of a building collectively pay a blanket mortgage and maintenance fund each month, enabling minimal buy- in values and permanent affordability. LECs common in several cities are as financially accessible as renting while maintaining the protection of homeownership. This project asks, “What public policy and organizational movements are necessary for spurring cooperative housing development as a method for combating gentrification and displacement in Seattle?” This project researches case studies of LECs across North America and identifies key findings through housing market data analysis and stakeholder interviews.
Full PDF of undergraduate thesis (24.3MB)
Tyler Simpson, B.A.
University of Washington
Research conducted from September 2019 through June 2020 as part of undergraduate requirements in the Community, Environment and Planning program in the College of Built Environments. Published December 31st, 2020
Seattle, WA.