The number and extent of federal regulations are at historic levels. Local and city regulations are following the same trends. Can you imagine living in NY City? The housing industry has been decimated over the past three years and it will take years before the industry as a whole will rebound. However, this doesn't stop local government from generating new ways to control development. Sustainable development has several definitions but in essence, use existing infrastructure and increase densities. In Seattle, developers can achieve sustainability by buying the development rights of landowners in outlining areas. Land taken off the market will only restrict the supply and drive costs up. What is happening in your community?
Source: Seattle Department of Planning and Development
The city of Seattle wants to use a 2011 state law that lets developers build bigger buildings
provided that they buy the development rights for nearby farms and forests. The program would apply to downtown Seattle, with the draft boundary marked by the solid red line on the map.
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