Private Investment Shaping
Seattle's Waterfront

Overview
Builds off of presentation on
public waterfront investments
Traces changes from Expedia
to SODO
Identifies drivers for change
Tracks private real estate
investment
Discusses land use challenges
& opportunities
How Are Private Forces Reshaping Seattle's Waterfront? 
2

Transformation Resulting From 
Lifestyle Changes
A hot high tech economy
Technological changes
(sharing economy,
telework, etc.)
Outside investment
Cities Around the World are Changing Rapidly
3

Expedia to Central Waterfront



4

1111 Elliot Ave W
Built: 1949


945 Elliot Ave W
Built: 1953





Expedia is redeveloping and expanding former Amgen Campus Near Pier 91
5

Expedia Expansion
Relocating from
Bellevue in 2019
4500 employees
3300 parking stalls
Completing EIS  2017
expected completion
1.2 million square feet
of new development by
2030 
Port Staff is Evaluating and Monitoring Expedia's Proposed impacts on Cruise and Terminal 91 
6

645 Elliot Ave W
Built: 2008




501 Elliot Ave W
Built: 2000



Office Buildings and Residential Creeping North
7

200 2nd AVE W
Residential
Completion dates: TBD
3031 Western Avenue
Apartments 100 units
101 Elliott AVE W                                                          Completion dates: 2018
Built: 1986


3131 Elliott AVE
Built: 1986



Fifteen Million Square Feet of Office Space Being Developed (Six Million for Amazon)
8

2521 Western Ave
Apartments  138 units
Completion date 2015





12,000 Condos  33,000 Apartments  10% Residential Growth Since 2010
9

Downtown Construction Boom
As of June 2016, there were
65 buildings under
construction, the most in more
than a decade. 
Investment levels higher than at
any point since tracking began.
Projects under construction -
$3.5 billion
This is more than double the $1.6
billion under way five years ago.
Seattle has more construction cranes working (58) than anywhere in the Nation
10

Pier 69







11

2100 Alaskan Way
Marriott
Built: 2003

1900 Alaskan Way
Built: 1997
Units: 232




Port of Seattle Pier 66 Improvements Triggered Waterfront Redevelopment
12

A Changing Central Waterfront


20 acres of new park space
Cruise expansion
Tourist visits double
"Burying" Seattle's traffic 
Downtown residences
13

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PIKE PLACE MARKET

Expanded Market Place
50 new rooftop day stalls for farmers and artists
Design by The Miller Hull Partnership







Design by The Miller Hull Partnership

22

Expanded "Meet the Producer" Space 
12,000 square feet of interior space for new, local businesses 





Design by The Miller Hull Partnership

23

Housing and Social Service Expansion
40 new units of low-income, senior housing
A Neighborhood Center with expanded social services
Design by The Miller Hull Partnership






Design by The Miller Hull Partnership

24

Funding 
Demolition of the Viaduct
WSDOT Parking Mitigation Funds
City Funding
Equity
Philanthropy
Low Income Housing Tax Credits and Grants
New Market Tax Credits
Debt financing

Seattle Great Wheel &
Aquarium
Wings Over WA                    Cyrene, 1301 Western Ave
$50 million renovation                     Apartments  169 units
Completion date 2016
51 University St
Sold 2015: $32.5 million
Mixed Commercial 6 stories
Seneca and Spring
Gonzaga University
Donated 2015
Ivars & Argosy                                                    Surface Parking lot
$30 Million restaurant                                                 2016 development Partner search
renovation
$10 Million new boat 
Maritime Building
Sold 2015: $13.1 Million
Mixed commercial
5 stories
Full renovation +3 stories

Colman Dock

Viaduct Removal Will Trigger More Redevelopment Along Waterfront
26

Weyerhaeuser


316 Alaskan Way S
Sold 2016, $13 M
Planned residential
development


Weyerhaeuser Headquarters: a Game Changer in Pioneer Square
27

SODO
Businesses and government agencies located
in SODO study area employed an estimated
42,700 covered workers in 2014. 
o Direct jobs in SODO support an estimated
100,000 jobs across the county
SODO businesses generate $13.6 billion in
annual sales. More than half the sales
generated come from manufacturing, and
warehousing, transportation and utilities.
Trucks moved an estimated $356 million in
marine cargo (imports and exports) across the
South Atlantic Street/First Avenue South
intersection in 2014. 
28

Duwamish MIC
Contains SODO and Port of
Seattle Maritime terminals
5000+ acres
Largest Manufacturing
Industrial Center (MIC) in the
Puget Sound
85% industrial zoning
58,000+ jobs
56% in "goods dependent"
industries
29

IG1 (Industrial General 1)  The
SODO Zoning Map            City's most intense industrial
zoning designation. Intended
for manufacturing, warehouse,
utility, and transportation
uses. Relatively smaller
allowances exist for
commercial uses such as
restaurants and offices.
IG2 (Industrial General 2)  
Intended for the same set of
uses as IG1. Has slightly higher
allowances for commercial
uses.
IC (Industrial Commercial)  
newer zone allows R&D and
traditional office buildings (ex.
KING 5/RealNetworks building)
Hyphen in a base zone
designation (as in IC-85 and IC-
65) signals a building height
restriction.          30

SODO Private Ownership (not including railroad)Public/Private Ownership

55%
private
45%
public
and     Safeco
Field
railroad


31

SODO - Owners of Multiple Parcels


59% of
private
ownership   Safeco
Field



32

Sodo - Single Owner Parcels

41% of
private
ownership 
Safeco
Field



33

Sustaining a Working Waterfront

Craig Kinzer                   Bob Donegan
Kinzer Real Estate                    Ivar's 

How Can Seattle Sustain a Working Waterfront?
34

Sustaining a Working Waterfront
Update municipal code to ensure the implementation of maritime
and manufacturing policies outlined in the Comprehensive Plan.
Ensure cross-functional transportation policy and planning that
supports Manufacturing and Industrial Centers and other maritime
and manufacturing needs.
Create policies that promote industrial investment in job growth and
discourage those that might constrain that growth.
Designate maritime assets and connected industrial lands as
essential public facilities. 
Advancing Good Land Use Policy through the Mayor's Advisory Council on industrial Lands 
35

Appendix

1. Aerial View of Elliott Bay
2. Aerial View of Port
Terminals and Harbor
Island
3. Aerial View of Sodo

36

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