A bigger risk for the company undertaking so much development is the local economy. After years of heady growth, apartment developers in Seattle have started to pull back some, citing fears of a slowdown in the city’s job growth. The number of cranes dotting the skyline has recently decreased.
For now, however, the boom is continuing. Amazon recently announced that it has 30,000 unfilled positions nationally, with many of those in the Seattle area. Vacancies in office buildings remain low. And the population continues to increase, growing by more than 20% since 2010, creating more demand for homes and offices.
“That doesn't stop,” Martin said. “Right?”
This article was provided by Bloomberg News.