SB5749 creates housing development opportunity zones in Washington to address housing supply issues.

SB5749 allows cities to designate areas with large commercial developments, like shopping malls and vacant stores, as housing development opportunity zones. These zones prioritize residential development, utilizing existing infrastructure to reduce costs. Cities can waive impact fees for developments within these zones and implement changes without waiting for comprehensive plan updates. The bill aims to expedite housing development in underutilized areas.

SB5749 creates housing development opportunity zones in Washington to address housing supply issues.

SB5749 allows cities to designate areas with large commercial developments, like shopping malls and vacant stores, as housing development opportunity zones. These zones prioritize residential development, utilizing existing infrastructure to reduce costs. Cities can waive impact fees for developments within these zones and implement changes without waiting for comprehensive plan updates. The bill aims to expedite housing development in underutilized areas.