3 fascinating insights about Capitol Hill’s future growth

Article co-written by CityBldr and Ewing & Clark

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.

Capitol Hill is a very diverse area and is a popular location for both residents and visitors. It’s the hub for the local LGBTQ community and hosts the annual PrideFest and other fun events from the centrally-located Cal Anderson Park. On the one side, Capitol Hill is an urban scene with some of Seattle’s most notable and popular restaurants and bars. The nightlife makes The Hill a colorful, buzzing place on Friday and Saturday nights. There’s also some fantastic boutique shopping, featuring the beloved Elliott Bay Book Company, which relocated from its original spot in Pioneer Square. Head a little north from the central Capitol Hill area to find gorgeous residential streets, the scenic Volunteer Park, and Lake View Cemetery, where some of Seattle’s founding families and Bruce Lee are buried.

3 Fast Facts about Capitol Hill’s development

1.  Over 750 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.  E Pine St is the street with the most potential in Capitol Hill:

CityBldr has identified that this street has the most undiscovered development potential. Property owners could sell for $39M more than the market suggests.  Tweet this

E Pine St was closely followed behind by Broadway E and E Pike St.

3.  Several driving forces are causing Capitol Hill significant development including infrastructure investments and the neighborhood’s prime location.

  • Capitol Hill has a unique and thriving character driven by its active street life. Residents demand to be in areas where they will have no trouble finding interesting restaurants, bars, and services.
  • Capitol Hill is in an incredibly convenient location and is walking distance from two major employment centers (South Lake Union and Downtown) and has great connections with University of Washington and Seattle University. The boom of office space in South Lake Union is fueling demand for apartments close by.
  • The neighborhood has excellent public transport connections. Capitol Hill has a street car which connects with Pioneer Square through the International District. Also, the recent completion of the Link Light Rail station allows quick, affordable connections to much of Seattle including downtown and the airport.
  • Capitol Hill has historically also been a strong residential performer for both sales and rental growth. This has led to it being a highly desirable sub-market for developers, investors and residents.
  • Capitol Hill is dense with a variety of multifamily residential buildings. This provides clear examples for other developments and the neighborhood has a good grasp on bringing new projects to the market without turning a blind eye to its historic character.
  • Developments in certain parts of Capitol Hill can take advantage of views to the Space Needle, Olympic Mountain Range, Downtown Seattle and Puget Sound.

Do you own an underutilized property in Capitol Hill?

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Recent examples of Capitol Hill’s ever changing presence.

Some of Capitol Hill’s newest food / drink experiences

Some of Capitol Hill’s newest buildings

Some notable projects under construction

Photos from around Capitol Hill

Do you know the owner of an underutilized property in Capitol Hill?

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 #7 is Rainier Valley and we will share additional information later this week!

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Header Image by SounderBruce