Multihousing growth strongest in Seattle neighborhoods with best employment opportunities and access to transit
Of the 58 neighborhoods with multihousing product in Seattle, 40 saw an increase in multifamily units since 2014.
November 20, 2019
- Of the 58 neighborhoods with multihousing product in Seattle, 40 saw an increase in multifamily units since 2014.
- Of the 40 neighborhoods that saw an increase in multihousing units, 22 more than doubled their unit count and 11 more than tripled over the same time period.
- South Lake Union saw the highest net increase of housing units with almost 5,000 added since 2014. As the office supply has expanded and employment opportunities have grown exponentially, developers have responded by providing a plethora of residential opportunities for a highly mobile workforce. A similar dynamic has played out in Belltown as the lines between South Lake Union, Belltown, and Downtown have blurred.
- The Roosevelt neighborhood saw the highest increase in unit count with a 11x increase in multihousing units. As 2021 approaches and the impending light rail station takes shape, developers have recognize how important access to transit is in our market. Similarly, Broadway (Capitol Hill) has added almost 3,000 units, many of which are directly adjacent to the existing light rail station.
Source: JLL Research, Axiometrics, City of Seattle