In a recent article Seattle Commercial Real Estate pointed out the involvement of charities and Children’s Orthopedic Hospital in housing for the first time. This attempt to address homeless and Affordable housing is finally getting a long overdue boost from significant individuals and local corporations. Plymouth Housing is in a campaign to raise $75 Million in equity. They have identified $48 Million so far and they expect to double their facilities to serve 1,950 people and go from 14 to 22 buildings. Seattle Commercial Real Estate has written about this issue consistently and lauds the efforts and the growing awareness of big business and financially and socially minded investors.
The economics are really staggering when you recognize the cost-effective values of providing housing for one year is the same as a three day stay in a hospital, a three month stay in jail, or one year of temporary housing. In commercial real estate we tend to focus on “market rate” housing to meet the demands on 1,000 people a week moving to our area. Seattle Commercial Real Estate has often written about the issue(s) of crime and homelessness and the implication of the election cycle for the City of Seattle in 2019. We have written articles about the need for change and how failure to change has already cost us substantial convention business. The future of commercial real estate is a function of the political climate and we are anxiously awaiting this election cycle.