Seattle among top 15 metros for real estate development
With real estate development surging across America, StorageCafe conducted a study on construction in the 50 largest metros — and among them, Seattle-Tacoma-Bellevue ranks 12th for growth. The industry blog analyzed construction in U.S. cities across six sectors (single-family, multifamily, office, industrial, retail and self-storage) over the last decade to determine the list.
With new residential construction somewhat limited in Seattle, the city is home to one of the country’s most expensive housing markets. Roughly 89,000 single-family home permits were issued over the last decade in Seattle, as well as 156,000 multifamily unit permits. But the area’s growth is concentrated in the industrial and office sectors; 49 million square feet of industrial space and 26 million square feet of office space has been added since 2012. Additionally, more than 7 million square feet of retail space was added.
The full list, as determined by StorageCafe, is as follow…Read more
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