I came across an article this morning that sums up the Seattle growth story and the impact that companies like Amazon are having on our local economy. It is a lengthy piece, but well worth the read. We often talk about the Amazon impact on South Lake Union and Seattle as a whole. This particular piece really delves into the growth story and shares the intimate details. I’ve included a few excerpts, but I highly encourage you to read this article. Bottom line is, as a condo owner in Seattle or someone looking to buy, this kind information is priceless:
Even with increased competition for talent, Amazon is growing at a remarkable rate. Last year, the company’s employment base grew 67 percent to 56,200 employees worldwide. Just 90 days later, Amazon’s head count had jumped again, to 65,600—a hiring rate of more than 100 people per day.
Head to South Lake Union any weekday morning, and you can see it in the flesh. On sidewalks where hardly anybody walked five years ago, Amazon employees are everywhere. They come from every direction—pouring out of buses, crowding the street corners, and streaming down the sidewalks, wearing the telltale light-blue ID badges. They tend to move quickly, and don’t spend a lot of time chit-chatting. Amid the most significant corporate expansion this city has seen in years, there’s work to be done.
For me, articles like this just validate my bullish outlook on owning real estate near South Lake Union in the downtown core. It will be exciting to see how new developments that are underway will continue to shape the future of Seattle.