Kidder Mathews Report: Seattle Leads in Apartment Development
Kidder Mathews’ multifamily team, led by Dylan Simon and Jerrid Anderson, has released its annual report on the Seattle and Puget Sound apartment development pipeline.
The report analyzes more than 1,000 individual apartment developments across four major Western Washington counties and gives an in-depth look at the development pipeline in each submarket.
“The Seattle-Bellevue and Puget Sound region maintains its position as one of the nation’s most vibrant apartment development pipelines. Here, continued economic stability and growth — and accompanying lifestyle amenities — keep apartment developers focused on the Pacific Northwest,” said Simon.
The area benefits from the major technology and life science companies, coupled with the draw of a northwestern lifestyle. By the end of 2020, the region had added more apartment units to its inventory in ten years than it had in the previous 30 years. The current development pipeline of more than 140,000 apartment units may allow apartment inventory to expand by another major milestone during the next decade.
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.