3 interesting facts when analyzing Rainier Valley’s future growth

This blog series is in response to customer feedback following our “Top 10 Seattle Neighborhoods Set for Growth” piece that appeared on King5 evening news. We will break down some key development results in each of these neighborhoods giving you more insight into what is happening in each location.

Rainier Valley is one of Seattle’s most diverse and culturally rich communities. Whether you are exploring their authentic international shopping, engaging in its varied entertainment experiences, or celebrating the heritage pride festival, you are sure to walk away with unique memories. The Rainier Valley is also an important source of jobs and an incubator of new businesses, particularly for new and recent immigrants. Historically its first residents included a significant number of Irish, Scottish and Italian immigrants who helped to shape many of its earliest industries (including lumber mills and food manufacturers), the remnants of these industrial roots still exist today. The 2009 light rail expansion into Rainier Valley brought many new opportunities for economic growth to the community. The sub-neighborhoods along the line are likely to experience significant change over the next few decades due to the need for affordable and commutable housing

3 Fast Facts about Rainier Valley’s development

1.  Over 1250 properties are profitable redevelopment opportunities

These properties have been identified by our team as having high development scores and therefore are likely to be actively pursued over the coming years.

2.  Rainier Ave S is the street with the most potential in Rainier Valley:

CityBldr has identified that this street has the most undiscovered development potential. Property owners could sell for $91M more than the market suggests.  Tweet this

Rainier Ave S was closely followed behind by Martin Luther King Jr Way S and 42nd Ave S.

3.  Several driving forces are causing Rainier Valley’s significant development including the expansion of light rail, community investment and pioneering developments.

  • The Link services Rainier Valley with several stops (Mt Baker, Columbia City, Othello and Rainier Beach). Most of these stops opened up right after the housing recession, so development was a little slow to start but has been improving recently.
  • Certain sub areas of Rainier Valley have their own focused campaigns to build community pride and encourage development eg “O! Hello, Othello”
  • Seattle Office of Economic Development and the Rainier Valley Community development fund invested into certain areas, allowing communities to be preserved/expand and making some key areas appear safer. These triggered pioneer developments that helped pave the way for other developers to move into the area.
  • Due to the south side of Rainier Valley having lower rents than other areas of Seattle (average Seattle rent is $2210 vs $1400 in south Rainier Valley) there is a lot of investment into affordable housing developments including grants from Paul Allen, HUD and the Seattle Housing Levy.
  • Low house prices and more park acreage per capita than any other neighborhood contributes to increasing demand from first-time homeowners.
  • Rainier Valley’s location means that most of the neighborhood is within walking distance of Lake Washington and is within 15 to 20 mins of both the downtown and Sea-Tac international airport. Commuters also typically experience far less traffic congestion with easy vehicular access to I5, I90 and downtown Seattle.
  • Seattle’s development has typically been focused to the north of downtown and as those opportunities become increasingly sparse more developers are becoming aware of the tremendous opportunities that exist south of the city center.

Do you own an underutilized property in Rainier Valley?

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Recent examples of Rainier Valley’s ever changing presence.

Some of Rainier Valley’s newest businesses

Some of Rainier Valley’s newest buildings

Some notable projects under construction

Photos from around Rainier Valley

Do you know the owner of an underutilized property in Rainier Valley?

If so, their property may be worth more than they think.

Information is power. Share this article with them so they know their neighborhood is important, and tell them about citybldr.com where they can instantly find out how much their home is worth to a builder or developer.

Our “Countdown of the top 10 neighborhoods set for growth” continues!

Follow us on social media as we continue to count down the Top 10 Seattle neighborhoods set for growth. Next up at #6 is the Central Business District and we will share additional information sometime next week!

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