SEATTLE (March 5, 2018) – The Downtown Seattle Association (DSA) released its 2017 Year-End Development Guide today and data indicate another great year downtown. Commercial construction projects continue to break ground in an already-hot market and new residents are snapping up apartments and condos. For a comprehensive picture of development in Seattle’s flourishing center city, explore the information within this guide.
“This was a fantastic year downtown, with private development running concurrent with upgrades to parks and public spaces in downtown,” said DSA President and CEO Jon Scholes. “Two of the last three years, the fastest growing demographic in downtown has been children. With our residential population continuing to increase, developers are planning years down the road when we expect to have even more families and workers in the heart of the city. Nearly 31,000 potential new residential units are in the pipeline, and our market needs that inventory.”
Highlights of this year’s guide include:
$4.3 billion in construction was under way in downtown at the end of 2017. This is more than triple the development during our 2010 construction low point.
Hotel rooms are coming online at a record pace, with 2,192 rooms scheduled to be delivered this year. In all, 7,775 rooms are in various stages of development downtown.
Residential development continues to drive downtown construction. There are 17,697 units scheduled for 2020 and beyond.
Industry leaders like Facebook, F5 and Amazon are expanding downtown, and firms like Expedia, Google and Weyerhaeuser are bringing in additional workers and demand for office space. There’s 10 million square feet of office space scheduled for completion in the next three years.
DSA publishes two development guides each year to quantify the total amount of residential and commercial development activity taking place within downtown Seattle. An annual update summarizing all development activity for the previous calendar year is published in February.
For a link to the Year-End Development Guide and other downtown construction information, please visit our development homepage.
About Downtown Seattle Association
Established in 1958, the Downtown Seattle Association (DSA) is a member-based nonprofit organization whose mission is to create a healthy, vibrant downtown. DSA advocates on behalf of business, nonprofit, arts and residential interests to create a downtown where everyone can live, work, shop and play.