Seattle's Downtown Revitalization Sputters, 3rd Highest Vacancy

The Downtown Seattle Association says the situation is improving, but still very concerning. Amazon's RTO or return to office policy has brought thousands of workers (foot traffic) back but new businesses moving in are offset by others leaving.

Seattle has the 3rd highest vacancy rate in its downtown

Only San Francisco and Austin, Texas have higher percentages of their 'downtown' districts vacant.

Geekwire reports Amazon's requirement for workers to return to the office has produced foot traffic. But, while some new businesses have set up shop or moved into the area, others are leaving.

Global healthcare nonprofit group PATH has moved out of the area and relocated in the Freemont District. Embattled and ineffective Mayor Bruce Harrell is facing a stiff challenge from socialist candidate Katie Wilson, who doesn't appear to grasp how to encourage businesses to return.

Her website indicates she could be in favor of a vacancy tax applied against retail or commercial property owners in the Downtown district; as if that threat will 'encourage' them to find tenants. She also favors converting some of the property to housing.

Crime, drugs and other taxes and issues are driving more corporations and business out of the Seattle area, especially downtown.

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Seattle's vacancy rate in the downtown has grown from 28.7 to 32.4 percent over last year.

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