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June 23, 2016

65 buildings under construction now in downtown Seattle

  • More than 14 million square feet of office space is in the pipeline; more than 5,200 hotel rooms are on the way; and 8,661 housing units are slated for completion this year and next.
    • By JOURNAL STAFF

    More buildings are under construction in downtown Seattle than at any time since 2005 when the Downtown Seattle Association started tracking.

    The DSA's 2016 Mid-Year Development Guide just came out and here are a few facts from the report about the booming market:

    • 65 buildings are under construction.

    • 8,661 housing units are slated for completion in 2016 and 2017, including 708 already delivered this year.

    • 64 buildings are scheduled for delivery in 2017.

    • $3.5 billion is currently invested in downtown development — more than twice the amount invested five years ago.

    • More than 14 million square feet of office space is in the pipeline.

    • With more than 5,200 hotel rooms on the way, the total downtown inventory will grow by 30 percent in the three years.

    DSA President and CEO Jon Scholes said in a statement that it's an exciting time in downtown Seattle.

    “The demand remains strong for office and residential space, and we're seeing evidence of that with continued low vacancy rates for housing and major employers choosing to locate in the heart of the city,” he said.

    Read the full report online at http://bit.ly/28QyG48.



    
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