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The potential benefits from Seattle’s waterfront redevelopment to local waterfront property owners.

  • The redevelopment of the Seattle waterfront is estimated to increase property values of retail, office, and residential condominiums located on the waterfront  anywhere from $300 million to $420 million according to the City of Seattle. 
  • The map on the left shows the five different study areas identified by the City that will see increases in their property values. These aggregated benefits are shown in the table below.
  • These benefit ranges will be used to calculate a future local improvement district tax on property within these study areas. The City of Seattle aims  to raise $200 million across the estimated 39.5 million square feet of office space and 4.5 million square feet of retail space situated on the waterfront.

Sources: Waterfront Seattle, 2017; Valbridge Property Advisors, 2017; JLL Research​

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