Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.
Topic: Downtown Seatt
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October 21, 2013 at 11:29 AM
On Sunday, I wrote about how the recession hit downtown Seattle, using the lens of Fourth Avenue. Thanks to its existing strength with offices, hotels, retail and attractions such as Pike Place Market, downtown came through those bad times pretty well. The downturn hurt exurbia and much of suburbia much worse than it did successful downtowns. Center cities have been quicker to rebound, and Seattle has received a big boost from Amazon’s new headquarters in South Lake Union. Downtown residential continues to grow, too.
A deeper dig shows that ground still needs to be made up. Data from the Downtown Seattle Association show some of the center city’s losses and rebound from the Great Recession. In 2007, the area held 3,700 street-level retail and service businesses. By 2010, that had fallen to 3,453. This year, it has recovered to 3,655.
The Denny Triangle showed the most bounce, from 337 to 384. Capitol Hill, the International District, Pioneer Square, Uptown and the waterfront all show more businesses in 2013 compared with 2007.