Seattle Commons — The Case For

Why this is a win for Real Estate (Developers, Property Owners)

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The Win

The Arch as a commons makes the surrounding blocks more valuable. Year-round foot traffic, activated ground floors, cultural programming — these are the inputs to the residential and commercial premium that defines great urban real estate. The Arch dark suppresses that premium. Developers with assets on Pike and Pine have a direct financial interest in the corridor being alive.

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I want to analyze this proposal from the perspective of Real Estate (Developers, Property Owners). There's a civic proposal to convert the WSCC Arch building at 7th & Pike into a year-round public commons operated by Seattle Center. The case being made to Real Estate (Developers, Property Owners): The Arch as a commons makes the surrounding blocks more valuable. Year-round foot traffic, activated ground floors, cultural programming — these are the inputs to the residential and commercial premium that defines great urban real estate. The Arch dark suppresses that premium. Developers with assets on Pike and Pine have a direct financial interest in the corridor being alive. The full proposal: https://commons.conventioncityseattle.com What are the strongest arguments for and against, from Real Estate (Developers, Property Owners)'s perspective?