Seattle City Buzz

To some, Seattle’s Alaskan Way Viaduct (elevated portion of Highway 99) is an eye sore, a disaster waiting to happen, an endearing piece of Seattle’s history. Either way, it slices downtown from it’s waterfront limiting access and views. The 2001 6.8 magnitude Nisqually Earthquake damaged the viaduct which has been undergoing continuous repairs to keep it up and functional. And, experts predict the viaduct may collapse during the next major earthquake.

Several proposals are under consideration from burying Highway 99 underground and creating a street level promenade, rebuilding another viaduct, creating a grade-level thoroughfare or just retrofitting it. Costs range from $800 million to $4 billion.

The city’s preference, and the most appealing & expensive, is tunneling Highway 99. This would open up the waterfront skyline and attach the waterfront to downtown. But it is controversial because the area is landfill that’s supported by a retaining sea wall. The proposal calls for rebuilding the sea wall, thus adding to the cost and closing one of the main North/South thoroughfares for 3 years.
But it has an uphill battle. Seattlites voted down the 14-mile monorail after the $1.7 billion price tag ballooned to $11 billion. One wonders, if the city is pitching a $4 billion proposal today, what exactly is the true cost? Though, if implemented, many condos and lofts along the viaduct will see increased values and may even spur new housing developments.

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An article in CNNMoney.com describes what we’re seeing in Seattle, people moving back to the city core after decades of migration to the suburbs.

Young professionals make up a big part of the trend. “It’s carefree living,” says Caparo. “Young professionals just want to put the key in the door and go to bed at night and lock it up again in the morning.” It’s also where the action is, professionally and socially. “For them, there’s lots of DNA to hook up with,” says McIlwain.

Retirees love the museums, restaurants and, most important, access to the best health care. Empty nesters get to live near work.

“For years people traded a commute for affordable housing,” says Jim Gillespie, CEO of Coldwell Banker. The further out in the suburbs, the more affordable the homes. But as suburbs expanded and got more crowded, road construction did not, could not, keep up. Congestion grew worse.

Of course this movement bodes well for Seattle’s exploding condominium renaissance. Fueled partially by the Growth Management Act, rising commute times and fuel costs, and lifesytle choices, urban centers are both practical and necessary to accomodate long-term growth.

And, I may become part of the statistic. Three years ago I left the city core to purchase an affordable home in North Seattle. From my apartment on Capitol Hill I lived a very pedestrian lifestyle - walking to the grocery store, movie theaters, restaurants, bars, Pacific Place and to the Pike Place Market every weekend to buy fresh fruits and vegetables. It was the epitome of urban lifestyle.

Now, I drive everywhere.

So I’ve been thinking about cashing out my nearly 40% appreciation and moving back to the city core and becoming pedestrian, again. Guess I’ll pull out my rabbit’s foot because I’ll need luck to get one of Vulcan’s lottery spots.