Social Impact

Social Return on Investment

Housing Diversity undertakes projects that contribute to socioeconomic diversity, equity, and inclusion in core neighborhoods. We seek to leverage our impact, addressing multiple social and economic challenges to:

  • Increase the supply of workforce and affordable housing
  • Reduce rent burdening on middle and low-income households
  • Deliver excellent livability
  • Provide easy access to public transit
  • Reduce single-occupancy vehicle use and residents’ carbon footprint

Housing Diversity Corporation is firmly committed to enhancing social equity in each city it operates in. Existing commitments and initiatives include:

The Alliance for Safety, Affordability, and Preservation (ASAP!)
Co-founded by Brad Padden, this initiative is helping to inform the Seattle city government in formulating a solution to upgrading over 1,145 seismically vulnerable unreinforced masonry buildings. Many of these buildings are historic or house a disproportionately large number of individuals from disadvantaged communities. ASAP! works with key stakeholders to create plans that addresses multiple barriers to seismic upgrades including displacement, the regulatory process and funding. These findings will help form the basis for proposed legislation.

Transit Oriented Development in Los Angeles
All of Housing Diversity’s projects in Los Angeles participate in LA’s Transit Oriented Communities (TOC) legislation. 11% of the apartments in these projects will be allocated to extremely low-income residents earning 30% of the area median income. Housing Diversity’s small unit projects will dramatically increase the amount of housing for extremely low income individuals and workforce housing density at high transit locations.

The city of Los Angeles has proposed enabling micro apartment legislation beyond participation in TOC that would permit the broader production of compact apartments throughout the city. In addition to participating in TOC legislation, Housing Diversity is also meeting regularly with Deputy Planners for the Los Angeles City Council to inform them of the positive impact of small apartment workforce housing and how new land use and building codes might be written to create the most positive effect possible.

One of Housing Diversity’s pilot projects in Los Angeles is an innovative partnership with a legacy non-profit community development institution, Century Housing. The joint goal is to provide a progressive, solution-oriented, sustainable alternative to traditional taxpayer-subsidized housing. This project will focus on increasing the supply of housing for people under 120% median area income.

Century Housing has traditionally funded low income and city-subsidized housing. However, the traditional product is expensive to produce, and incumbent housing providers haven’t produced enough housing to meet the spiking needs for middle income workforce housing.

The Seattle 2030 District works to break down market barriers to building efficiency in an effort to make Seattle and the surrounding communities more sustainable, and contribute to the region’s environmental resilience, livability, and affordability. Brad is a member of the 2030 District Developers Forum, and assists in developing workable legislation in adaptive reuse projects, including unreinforced masonry and historic structures.

MFTE

Multifamily Tax Exemption, Seattle
Tax exemption in exchange for income/rent-restricted units. Supports mixed-income development.

MHA

Mandatory Housing Affordability, Seattle
Requires new development to include affordable homes or contribute to a city fund for affordable housing.