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.
Read MoreAfter years of planning, the Washington State Convention Center updates and construction are officially underway, as an 11-story addition will be added to “the sprawling cite of the Convention Place Station at the north portal of the downtown transit tunnel.” The $1.7 billion project is one of the biggest developments to be embarked upon in Seattle, and as Puget Sound Business Journal outlines, it is expected to “create up to 6,000 union construction jobs and hundreds of apprenticeships.”
Read MoreWith construction cranes at nearly every turn in downtown Seattle, it is easy for one to look around at all of the high-rises under development and assume they are condominiums. Yet, as Curbed Seattle reports, “the majority of new residential projects going up in the city—and downtown specifically—are destined to be rentals.” This means that out of the multi-family opportunities in the city, only 7.1 percent will be offered for sale. And this is a far-reaching figure, that covers “not just downtown proper, but lower Queen Anne, Belltown, Pioneer Square, Sodo, First Hill and western parts of Capitol Hill.”
Read MoreRealogics Sotheby’s International Realty recently announced that for the first time in a decade, their brokers are representing ten new multi-family for-sale condominium and townhome projects in downtown Seattle and its surrounding neighborhoods. Though project specialists admit the cycle is a mere fraction of the last one, the spur of activity has caused the firm to relaunch the UrbanCondominiums.com website and a New Developments Preview Center in Belltown at 2715 First Avenue in Seattle. These resources will help potential buyers learn more about what’s currently for sale, what’s coming next, and equip them to combat today’s competitive in-city condo market.
Read MoreA recent feature by Realogics Sotheby’s International Realty proclaims its “Seattle’s New Era of Condos,” as a new development spur is adding more new condominium projects to the city than in the last decade, the population continues to grow, residents and visitors are fueling new in-city attractions, and millennials decide to make the move from renting to homeownership. In addition to its position with the February edition of Portrait of Seattle Magazine, the condo insert was hand delivered to 1,500 broker mailboxes throughout the region, and was included in select copies of Puget Sound Business Journal, Wall Street Journal, Madison Park Times, Capitol Hill Times, Queen Anne & Magnolia Times, Magnolia News, City Living Seattle, The Monroe Monitor, Valley News, Eatonville Dispatch and Marketplace.
Read MoreAs a recent GeekWire feature proclaims, “here’s the 4-minute video you’ve been waiting for to illustrate why a 4-mile drive in Seattle takes 45 minutes.” The film in question? A time lapse recently created by Ricardo Martin Buralla, a VR/AR engineer with Google, who assembled 3 years’ worth of images taken by a webcam that was affixed to the top of the Space Needle. In all, the video is comprised of 2,166 panoramas (about 2 photos per day) that Buralla stabilized using code to create a cohesive piece.
Read MoreA recent feature on King 5 News declares that Seattle is officially in a “condo conundrum” as the city continues to face historically low inventory amidst ever-increasing demand due to Seattle’s strong economy and job growth. Despite the fact that the city is incubating many would-be buyers within rental units, developers are overwhelmingly choosing to supply apartments for rent, in large part due to Washington state’s stringent condo policy.
Read MoreThe Seattle skyline will continue to be filled with cranes for a bit longer. Recently published in GeekWire, “A new report from the Downtown Seattle Association says the city is in the midst of a record $5 billion in current construction activity downtown.” The builders are rushing to meet demands of new residents (more than 1,000 a week) and businesses moving into the city. According to the 2017 Mid-Year Development Guide, residential work represents two-thirds of all projects underway and have 30,000 units under construction or in development.
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