As reported in the Seattle-PI, it's official! The Amazon Twin Towers Downtown Seattle development located in the Denny Triangle area has been tentatively approved by Seattle City Planning and Development Department. With just a few minor design changes to go, we will see an additional 3.3 million square feet of office space in the next few years in buildings going up 38 floors. The development will encompass the area between 6th Ave on the west and 8th Ave on the east. And between Westlake and Blanchard Streets on the north and south. This comes after Amazon already agreed to buy it's South Lake Union 11-building complex from Vulcan Real Estate for $1.16 billion back in October.
Amazon is not the only company building office space downtown. Commercial developers are coming back to Seattle in a big way. According to the New York Times, Seattle is one of the few markets where developers are making money. And office vacancy rates are now under 10%. As a residential real estate broker I can tell you, this is music to my ears. Nothing brings strength and confidence to the residential market more than a strong business climate.
To look at condos and homes under $500,000 available for sale near this development and the existing Amazon Campus, click on this link: http://www.Seattle-RealEstate.idxco.com/m/8520/AmazonCentricListings?