September 16, 2019 Comments Off on Residential Development Hits All-Time High in Downtown Seattle Views: 1035 Seattle & Pacific Northwest News, Seattle News, Top Seattle

Residential Development Hits All-Time High in Downtown Seattle

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Downtown Seattle’s population has burgeoned over the last decade, in tune with strong job growth. Downtown Seattle Association’s annual mid-year report shows 88,000 people live downtown and 313,589 work there; that’s an increase of more than 40% by each group since 2010.

That growth has driven development to record levels, too. Downtown Seattle Association reports that 72% of downtown construction activity contains a residential component, which is the highest percentage ever recorded by the nonprofit advocacy organization.

Downtown Seattle Association’s Elliott Krivenko says, “We indeed found that residential development is a larger share of the total than at any time since we started our own tracking in 2005.”

Seattle has roughly 7,100 apartment units and 1,000 condo units under construction. In the past 18 months, 52 buildings have been completed, with 43 more expected in the next 18 months. Another 133 are in the pre-development phase.

Read more at Downtown Seattle Association’s Report

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