Are Seattle Renters Being Priced Out of the Market?

South Lake Union

South Lake Union

In the next few years Amazon said they will hire an additional 12,000 employees and they all have to live somewhere. But at what cost? The rapid redevelopment could become an epidemic for all of King County. The average one bedroom in South Lake Union costs $2,200. That’s more expensive than many of the trendy neighborhoods of San Francisco.

Just outside his door, Patrick Tompkins’ Capitol Hill neighborhood off “East John” is rapidly changing. “There’s one woman who’s lived there for 26 years. There’s still two tenants hanging on, but they will be evicted. You can see the land use sign is up,” he said as he walked down the street.

The 1920s apartment complex just two doors down will soon make way for a brand new five-story unit. Following a trend that’s lined his historic street. “In the last couple of years, it’s really taken a turn. That threatens the diversity that makes this neighborhood so wonderful,” he said.

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Authored By Abbey Gibb – See the Full Story at King 5

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