With the housing demand at an all time high, construction across Seattle has been booming, and even experts can't pinpoint when it will come to an end. With the influx of people coming into the city, we have seen a rise in large housing construction developments, business construction projects, and infrastructure improvements. It’s hard to go down a single street in the city these days without seeing a construction crew of one form or another working away on the newest piece to grace the city skyline.
Since the collapse of the housing market, one would be justified in thinking that this type of movement would have come to a slow crawl, and it did happen. Throughout 2011 there were only 20 new buildings erected in the city, a ten-year low, and yet here we are six years later with more than triple that amount on the horizon. And of course, that’s just counting downtown Seattle proper, there are still more buildings coming in the outlying districts in the area. The movement that the city has been seeing lately in the realm of new construction has been totally incredible, and tells a large tale for the city as a whole.
With more to draw new residents in, the cost of living, amenities, and of course the cities endeavor to keep up with new demand, has been bringing people in by the hundreds, which in turn brings us right around to the beginning of this story as the city tries to keep up. There may eventually come a lull in our capability to keep up with demand, which will naturally taper off the flow of incoming residents, but even those who’s job it is to know these things can’t exactly put a figure on when that’s going to happen.
For those living in the city already, this may come as more of an annoyance than a cause for celebration, as the current state of things brings all sorts of hurdles, especially in the realm of daily commutes, but the long-term implications are great. As homeowners in the area, your property value could see itself climb steadily, even on homes that cost relatively nothing only a few decades ago. Meaning that if you really find yourself in need of escaping the hustle and bustle, you may find yourself doing so with much more in your pocket.
We for one, are excited about the prospects. Not only does this help boost local business, and provide hundreds of jobs across the city for those who need them, but it shows to all looking in the appeal of this city that we have been promoting for so long. If you’ve considered moving into the Seattle area before, then now could be the best time to get in on the ground floor, before spaces fill up quickly. We may not be sure when it’s going to come to an end, but for right now, we’re pretty glad that it’s happening in our back yards.