The Seattle Construction Boom
The Emerald City has seen a record number of construction projects in recent years and activity does not seem to be slowing down, as Seattle Times reports that there are currently 66 major projects underway in the city — that’s up by 1 compared to six months ago. Though activity has fluctuated in the past few years, figures remain high and the future looks just as busy, with permit plans indicating that there are 32 projects that will soon be underway, and 129 more in the pipeline.
As the Times notes, the only major deterrent to sustained activity seems to be available space for development. “Parking lots and low-slung buildings are disappearing, and two-thirds of developable land in the city is reserved only for single-family houses,” the article outlines.
So, what’s trending amidst all of this building activity?
Condos are on the rise once again, with 1,000 condominiums currently being built in the city and another 2,300 planned.
Office construction is slowing.
More hotel rooms were built in 2018 than in 2010 to 2017 combined.
Among the projects in development, the Expedia campus is by far the largest, valued at $600 million. That is followed closely by the Rainier Square mixed-use project (at $570 million) and the 2+U Office and Colman Dock renovation.
While South Lake Union has long been home to the most construction cranes, that seems to be shifting, as Queen Anne and First Hill are home to ten projects each, the same as South Lake Union.