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With the number of people moving to Seattle, the latest trend shows that 1.5 to 2 million people will relocate within the next 10-12 years, which is what will keep the values of our homes high and secure.
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A recent article by RISMEDIA shows that the Seattle skyline may change in coming years, as the City Council endorsed raising limits on building heights. The Denny Triangle area should see the most action, but more giants such as Columbia Center are highly unlikely to appear in the city.
The Seattle City Council cleared the way for sweeping changes to the downtown skyline Monday, and several developers stand ready to take advantage of new rules allowing taller condo and office towers.
Projects that have been waiting for the go-ahead to go taller include two condo towers near Pike Place Market and another condo tower close to another neon-lit Seattle icon: Elephant Car Wash.
Called a milestone and turning point by Councilman Peter Steinbrueck, the new zoning is expected to usher in a wave of residential towers in the next several years. It repeals height limits voters set on downtown buildings in the 1989 CAP Initiative, when residents feared runaway growth.
Now, in the hopes of bringing more residents downtown and curbing sprawl, buildings will be able to soar hundreds of feet beyond those limits if developers meet certain requirements, such as contributing to a fund for low- and moderate-income housing downtown.
Real-estate experts say conditions are ripe for a surge in downtown high-rises, driven largely by empty-nest baby boomers who want to live near cultural amenities.
A lot of out-of-town developers are focused very deeply on Seattle and have not made moves yet because they're waiting for this zoning change, said Matthew Gardner, a local land-use consultant.
Several factors put Seattle on the brink of a boom, including relatively high incomes, heavy traffic and limited land supply.
Add to that the trend of baby boomers wanting to move downtown, and it bodes well for increased density and residential development, Gardner added.
William Justen, a former city planner who is developing a 400-foot condo tower at 1521 Second Ave.
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Downtown Seattle is the place to be that offers all of the modern features you would expect from new or completely rehabbed condos throughout the Downtown Seattle area. New development offers some very attractive pricing to investors or savvy buyers....where do you start? Feel free to contact me for a step in the right direction.
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