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Downtown Seatle has 60,000 people living downtown in a dense compact area. There are 7,000 new units that started construction this year in mostly highrise buildings and some midrise also.
Can I ask for a source? 7000 is an extremely large amount of units.
Can I ask for a source? 7000 is an extremely large amount of units.
Sorry dont really care to post links, Awhile back puget sound business journal had an article about how Seattle has 7000 units under construction in the downtown area 90% of all apartment construction in Seattle metro is in Seattle. Since then they have started construction on more high rises downtown. I guess you could look it up yourself and look up current construction downtown theres alot going on.
Can I ask for a source? 7000 is an extremely large amount of units.
Well there are nearly half that under construction in DT Philly in the down economy among highrises (though one is only like 10 stories), seems reasonable. I think I also saw there is some projects in Seattle around some of the new Light Rail stations which could be driving this as they seemed like decent size projects but not sure all are actually DT so to speak. Though to get to 60K I think it extends beyond the CBD under the description.
Sorry dont really care to post links, Awhile back puget sound business journal had an article about how Seattle has 7000 units under construction in the downtown area 90% of all apartment construction in Seattle metro is in Seattle. Since then they have started construction on more high rises downtown. I guess you could look it up yourself and look up current construction downtown theres alot going on.
Quote:
Originally Posted by Puget Sound Business Journal
The tightest submarkets are east Bellevue and Seattle’s First Hill neighborhoods, where vacancies stood at 3.5 percent. More than half of the 350 rental units absorbed during the quarter were in downtown Bellevue, which had more than 193 units taken off the market.
New construction has added 1,318 units, with another 550 units expected by year’s end. More than half, or 978 units, of those are opening in Seattle. But development is shifting more focus to the Eastside and Snohomish County. During the second quarter, 90 percent of units under construction were in Seattle. That dropped to 70 percent in the third quarter.
Currently, 4,664 units are under construction, more than twice as many as at the start of the year. Cain predicts 2,107 new units will be delivered in King and Snohomish counties next year.
Based on those numbers, it sounds more like 600-2000 rental units would likely have started construction in downtown Seattle this year, although I admit that doesn't include condo (non-rental) units.
Just to compare though, about 7500 units in buildings 10 stories or more started construction in downtown Toronto so far in 2011, and it probably won't be much higher if you include buildings under 10 stories.
Well there are nearly half that under construction in DT Philly in the down economy among highrises (though one is only like 10 stories), seems reasonable. I think I also saw there is some projects in Seattle around some of the new Light Rail stations which could be driving this as they seemed like decent size projects but not sure all are actually DT so to speak. Though to get to 60K I think it extends beyond the CBD under the description.
Earlier he said 7000 started construction this year but now he's saying 7000 under construction, which is a more reasonable number since most highrise buildings take more than 1 year to build, sometimes as much as 4 years. If it's 7000 under construction, and there are 4664 rental units U/C in King and Snohomish, that means maybe 3000 rental units downtown (Bellevue seems to be building a fair bit, and there might be a little elsewhere), so that would mean about 4000 non rental units U/C in downtown Seattle if ironcouger is correct.
Earlier he said 7000 started construction this year but now he's saying 7000 under construction, which is a more reasonable number since most highrise buildings take more than 1 year to build, sometimes as much as 4 years. If it's 7000 under construction, and there are 4664 rental units U/C in King and Snohomish, that means maybe 3000 rental units downtown (Bellevue seems to be building a fair bit, and there might be a little elsewhere), so that would mean about 4000 non rental units U/C in downtown Seattle if ironcouger is correct.
Wow all that thanks for checking I could be wrong with my # going just by memory lol. I can say there is alot of highrises under construction downtown though. And the population is correct Just checked current stats on downtown seattle association 60,000 residents downtown. And Seattles downtown is compact and dense.
Downtown Seatle has 60,000 people living downtown in a dense compact area. There are 7,000 new units that started construction this year in mostly highrise buildings and some midrise also.
DT Seattle looks like a population of 18K over the .9 sq miles of DT/Belltown/Pioneer Sq with a density of 20.3K, pretty decent, a similar 1 sq mile to most DTs in comparison
To me I always thought of First Hill and Capital Hill which always felt mostly a bit of an extension of the DT, with these the population goes to 52K, not sure these areas would really be considered DT for Seattle but a case could be made for them. These 5 neighborhoods have a collective density of 23.4K over a little more 2.2 sq miles (actually pretty large in terms of sq mileage when compared to many other cities DTs or what is included).
These numbers make a lot of sense to me as to me the density of the Seattle DT always feels under the likes of Boston and Philly though above most DTs in the US. It also makes sense that when looking at places like Queen Anne/Cascade/Squire Park and the next set of neighborhoods from the DT the densisty drops pretty significantly in Seattle
Omaha isn't on the level of some of the cities mentioned already obviously, but the market has stayed pretty strong through the recession.
Condo's that came online in the past year.
Riverfront Place II Priced 200K to 1.2 Million
The last phase of The Rows at SOMA. 175K to 550K
JLofts 200K to 1.1 Million
Major Apartment Projects.
Northern Natural Gas tower being converted to apartments. $700-$900
http://www.ketv.com/2011/1017/29512206_240X180.jpg (broken link)
Farm Credit Building converted to apartments. $500-$700
There are a couple more mid-rise infill apartment projects popping up downtown. All in all a steady increase, but nothing eye-popping.
Our one major condo tower proposal fell victim to the poor economy though.
Nice info about other cities though!
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