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May 2, 2013

Survey: S.D. Deacon

Image courtesy of Bumgardner Architects [enlarge]
The Angeline will have 193 apartments above a PCC Natural Market and other retail space.

Specialty: Retail, office, multifamily/mixed-use

Management: Employee owned and managed

Founded: 1981

Headquarters: Bellevue; Portland; Sacramento, Irvine and Pleasanton, Calif.

2012 revenues: $95 million (Bellevue office)

Projected 2013 revenues: $118 million (Bellevue office)

Current projects: Seattle Premium Outlets; Angeline Apartments; Oregon 42 Apartments

With offices up and down the West Coast, S.D. Deacon has watched various cities battle to recover from the recession. Seattle has done as well as anyone with a backbone of strong companies and solid job growth in the last few years. A continuing apartment boom has helped the construction and development industries stay strong during a still rocky economic climate. Scott Lindley, business development manager at S.D. Deacon, expects the upswing continue for the next two years.

Q: You have projects in a lot of markets. How does Seattle compare?

A: The Seattle market was the first to come out of the recession and has been the strongest performer, with the emphasis being mixed-use and multifamily, and that appears to be a trend that will continue for at least the next 12-18 months. Our other markets are catching up, and we’re looking forward to a robust 2014 and 2015.

Q: How does your workload compare to recent years?

A: Definitely on the upswing, and it looks to be our best year since before the recession. We’ve got a nice mix of work between retail, commercial and multifamily, and we are starting to look over the horizon to see what 2015 and 2016 will hold. There is much more of a positive energy now than in the past three or four years.

Q: What sectors are strongest in this area and which continue to struggle?

A: Obviously, multifamily holds the most opportunity at the moment, and appears it will continue to stay strong through this year. Condo projects are starting to be discussed, and new construction of commercial office is also looking like it may pencil in mid- to late-2014. We continue to see a reasonably strong tenant improvement/renovation market on the commercial side, but would like to see an increase in new construction in this arena. At this point, most of the large auto dealerships have either been completed, or are booked and scheduled to be completed in the next 18 months, so that segment will be dropping off a bit. In all, we’re cautiously bullish, but would like to see an upturn in areas other than the current multifamily boom.

Q: What does S.D. Deacon do in terms of green practices?

A: We have an in-house individual dedicated to helping us achieve the optimal balance of green building practices and cost-competitive construction solutions. Our efforts encompass all facets of our business, from our offices to our job sites, and everybody is encouraged to contribute. This was something we initiated more than five years ago, and when combined with our various LEED professionals on staff, we feel we offer our clients the best solutions to the challenges they face in building cost-effective, environmentally conscious projects.

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