Background
I am fortunate enough to own a single-family home in Tacoma. My plan was to use the city’s ADU process to turn my basement into a separate unit for rent (colloquially known as a duplex). If Initiative 2023-01 passes, I will probably not put the money into making it a duplex and will sell my house when the time comes – there would be too much risk in renting it out.

Problems with Initiative 2023-01
I do think that the initiative will increase single-family housing supply for ownership. However, it will reduce the rental housing supply and landlord risk, thereby increasing rents across the local market. Below are the mechanisms for how some perverse incentives might occur: