During the COVID pandemic, the City of Seattle introduced a new, temporary “Safe Streets” permit that allows businesses to take over sidewalk space, and in some instances parking spots, to allow for more outdoor activity. The city is now strategizing on how to make the program permanent, with some modifications. …
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September Economic Forecast
The Washington State Economic and Revenue Forecast Council has published its September update. Some highlights and lowlights: GDP forecasts are reduced for 2022 and 2023. Consumer confidence is up. Employment is a mix, with some sectors now above pre-COVID levels and others (like hospitality) still well below. Washington employment as …
Continue readingCity proposed updates to “Safe Start” outdoor permit program for businesses
This week the City Council will hear an update from SDOT on what it intends to propose for a revised version of its “Safe Start” permit program allowing business to put dining, vending, merchandise, and other activities outside their storefront. This presentation summarizes the proposed changes. I hope you found …
Continue readingState economic forecast update
The Washington State Economic and Revenue Forecast Council has issued its forecast update for June. This is a detailed report of national and state economic forecast indicators, with predictions for the next few years. Given everything that is in play at the moment — war in Ukraine, the ongoing COVID …
Continue readingJune 2022 Washington economic forecast
Today the Washington State Economic and Revenue Forecast Council released its June 2022 forecast update. Here is the top-line summary: I hope you found this article valuable. If you did, please take a moment to make a contribution to support my ongoing work. Thanks!
Continue readingSeattle office space demand for April 2022
VTS has posted its monthly update on office space demand for April. Nationwide, demand for office space was relatively unchanged. Here it rebounded somewhat after a substantial drop in March, though it still remains at 58% of 2018 levels. According to VTS, the April upswing in Seattle was “driven in …
Continue readingVTS office demand index
Real estate technology firm VTS has released its monthly office space demand report with data for the month of March. Nationally, demand for office space rose by 20%. All of the major cities it tracks saw an increase, with one exception. That exception: Seattle. Here office space demand dropped 31%, …
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