Report: Apartment developers have 'voracious appetite' for Seattle area
Thousands of apartments are under construction in the Puget Sound region, with renter demand — and current inventory — justifying "the case for continued robust development," according to a multifamily development report released Friday by Kidder Mathews.
It counted more than 137,000 units in the development pipeline in the four-county area, including King, Pierce, Kitsap and Snohomish.
Surprisingly, the biggest relative increase in units won't be in high-rise zones like South Lake Union or downtown Seattle, but rather South Seattle, the report said.
South Seattle — which includes the Beacon Hill, Mount Baker, Columbia City, Georgetown and Rainier Valley neighborhoods — has 8,766 apartment units under construction, permitted or under reviews, according to the report, or 247% its existing inventory of 3,545 units.
https://www.bizjournals.com/seattle/news/2022/10/10/plenty-of-apartment-units-planned-in-puget-sound.html
Hopefully a good percentage of them are affordable.
= new reply since forum marked as read
