HDC Endorses “Yes” on Initiative 137 (1A)
The Housing Development Consortium (HDC) endorses “Yes” on Initiative 137 1A as an important step to expand affordable housing options in Seattle. HDC is proud to represent over 200 members across the affordable housing sector. Together, we are united in our commitment to ensuring that all people can live with dignity in safe, healthy, and affordable homes in communities of opportunity.
Seattle faces a severe housing crisis that affects people across the entire income spectrum. I-137 1A offers an innovative approach to addressing a range of housing needs. I-137 (1A) creates a dedicated, progressive revenue source for social housing—an estimated $50 million annually—funded through a targeted payroll tax on corporations paying employees more than $1 million per year. This aligns with HDC’s longstanding advocacy for progressive taxation to meet our city’s urgent housing needs.
The social housing model, inspired by successful international approaches, aims to create and preserve permanently affordable, mixed-income housing. Ensuring dedicated revenue streams that complement, rather than compete with, existing affordable housing funding is crucial to strengthening Seattle’s housing ecosystem.
On the February ballot, Seattle voters will choose between two competing proposals to fund social housing:
- Initiative 137 (1A) establishes a new dedicated revenue source of approximately $50 million per year through a payroll tax on highly compensated employees.
- Alternative 1B instead reallocates $10 million per year from existing JumpStart affordable housing funding to the social housing developer—diverting resources away from other essential affordable housing initiatives.
HDC supports Initiative 137 (1A) because it expands funding for affordable housing rather than shifting existing resources. We encourage our members and partners to approach this initiative with the collaborative spirit that defines our work—embracing bold, innovative solutions to address the housing crisis.
HDC’s members bring deep expertise in affordable housing development and management, and we collectively stand ready to support the implementation of social housing in Seattle. Governed effectively, we believe social housing can be a valuable tool in a broader strategy to ensure all people can live with dignity in safe, stable, and affordable homes.
Initiative 137 1A represents a commendable step toward securing dedicated progressive revenue for housing and exploring new models to address Seattle’s affordable housing needs. HDC proudly endorses this measure and invites all stakeholders to join us in supporting this initiative
