New Construction Showcase
I missed the New Construction Showcase the other night but some others made it.
Seattle Times, Booming development set to change Seattle’s look:
Despite soaring construction costs and land prices, the downtown Seattle residential pipeline is booming with new condominium projects. Forty-nine new buildings — 13 of which already are under construction — are planned to be completed by 2010.
The Times also has a PDF of the Seattle Skyline in 2010:
Realtor Ben Kakimoto also attended, Looking Ahead to 2010 and posts about some of the speakers:
[Economist] Gardner touched on the â€œbubbleâ€ topic as well. He mentioned that Seattle should be able to absorb about 2,000 to 2,400 new units per year, but with the external factors noted above, housing supply will be constrained with only about 1,500 units available per year for the next 4-5 years. This combined with job growth and decrease of short term interest rates thatâ€™ll reduce rates on 3 and 5 year ARMS, Gardner predicts the downtown housing market will remain strong.