Downtown Seattle Economic Update 2017 With Photos
We attended the Downtown Seattle Association (State of Downtown) event this morning. It was a inspiring to see how many people attended and to hear about all the growth and change happening Downtown. There were a number of speakers addressing urbanization, new growth initiatives and how to address issues facing our Downtown corridor.
We took the liberty of highlighting the key takeaways (see or infographic below) Here are a few other highlights as well:
- New Pike Place Market Expansion
- New Washington State Convention Center Expansion
- Nexus Condos will be opening their sales center next month
- Big renovations to multiple Pioneer Square buildings
- As of December 2016 there were 68 buildings under construction
In regards to the Seattle condo market, the median price per condo is up 48% over the same time in 2016. Our market remains strong and grossly underserved. We hope to see a few new projects announce their plans for development in 2017/2018 – time will tell. There are currently 13,000 condos in the Downtown Seattle market and over 45,000 apartments. There are estimates of 12,000 more residential units delivered to the Downtown Seattle market by 2019.
We are a member of the Downtown Seattle Association – more info here.