Will the Viaduct construction affect West Seattle home values?

Will the Viaduct construction affect West Seattle home values?

The recent Spokane Viaduct widening project gave West Seattle residents a taste of the traffic disruptions that will become more prevalent as the replacement for the ailing Alaskan Way viaduct commences. For years, West Seattle homeowners, and buyers considering West Seattle question how home prices will be affected when the work actually begins. It remains to be seen exactly how the market will be affected, but here are 4 ideas to consider when making the decision to buy in West Seattle (or stay if you’re already here).

1) Traffic congestion will increase, especially for those commuting north and to the East side. If long commutes concern you, then consider whether the plan for alternative routes and transportation can work for you. (http://www.wsdot.wa.gov/Projects/SR99/HolgateToKing/mitigation.htm) 2) All Seattle neighborhoods will be affected West Seattle is only one of many neighborhoods that will be affected during the viaduct construction, so to think that prices in West Seattle will be affected more drastically than Queen Anne, Fremont, Wallingford, and the rest of the neighborhoods between West Seattle and Greenlake, etc is incorrect. Also, 1/3 of the North-South traffic uses99 to get to where they are going, a majority of this traffic will have to use I-5 putting an even bigger strain on commuters moving in both directions. In the short term, I see home values close to downtown spiking upward, which would include West Seattle residents who work downtown and can ride the water taxi, etc. I also think we will see businessescreating alternative work hours, and more work-from-home options to adapt to the commuting challenges for employees. (http://www.seattlepi.com/transportation/306963_viaduct10.html) Matthew Gardner article from 2007

3) Vibrant "local" neighborhood advantages: Bainbridge and Vashon are examples of places that became MOREcool and valuable becausethey are a little more off the beaten path. The more difficult it is to jet into Seattle, the more local businessesand alternatives will develop. I expect West Seattle to get even cooler over time!

4) Good long term investment If we actually see property values depressed during viaduct construction, then opportunities will arise for longer-term investments. Once completed, West Seattle will see a surge in its market.

How would drivers from West Seattle get to downtown Seattle?

Residents from West Seattle would have accessto downtown Seattle via SR99 ramps to a new waterfront roadway. They will also be able to use a new Spokane Street Viaduct off-ramp to Fourth Avenue S. Depending on their destination; some trips would get shorter while others may take a few minutes longer. Portal design provides more details about the proposed bored tunnel's north and south connections.

Photos of the original Alaskan Way Viaduct: http://www.wsdot.wa.gov/Projects/Viaduct/Photos/Historical.htm#parking What’s happening now-daily updates: http://www.wsdot.wa.gov/Projects/SR99/HolgateToKing/CurrentWork.htm Proposed bored tunnel facts and figures: http://www.wsdot.wa.gov/Projects/Viaduct/tunnelfacts.htm What will be the end result: http://www.wsdot.wa.gov/Projects/SR99/HolgateToKing/EndResultMap.htm