The Legacy We Leave Behind: Rehabilitating single room occupancy hotels in Seattle’s Chinatown International District through use of a Legacy Development Fund

Abstract

A booming regional economy and ever-growing population places stress on established, low-income neighborhoods near the central core of Seattle. Many residents in these vulnerable neighborhoods have been unable to realize the same economic prosperity as their counterparts in wealthier, privileged neighborhoods. Historic institutional barriers to security of tenure led to disinvestment and divestiture, inviting gentrification, disassociation, and displacement. This investigation examines current neighborhood capacity for growth within existing historic buildings and considers the potential for reuse of locally owned cultural assets to meet capacity demanded by new zoning and increasing population. This thesis explores the effects of new and existing regulations, the complications of non-traditional ownership models, and the pressures associated with a volatile, escalating real estate market on the choices made by long-term residents and local property owners to redevelop existing properties. This thesis analyzes the availability and efficacy of development tools used in rehabilitation of existing properties, focusing on the viability of public/private partnerships, local funding structures, and incentive programs.