Northwest City Scoop: Construction Starts in Seattle
Dan Peyovich President, Northwest Operations Balfour Beatty
A number of large projects are driving the Seattle market, says Peyovich, pointing to construction at the Seattle-Tacoma International Airport and Tacoma Convention Center as well as Microsoft and Amazon’s continued growth. “These really big mega-jobs are pushing up the entirety of the marketplace,” he says. Sound Transit’s light-rail projects are also sparking residential and retail development in the city. Seattle’s office market, however, is cooling down, with less activity surrounding speculative buildings, Peyovich says.