Dylan Simon -- Colliers International
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Dylan Simon -- Colliers International
I specialize in the sale of apartment buildings in Seattle and the greater Puget Sound region. I focus on the sale of both apartment buildings and developable land ranging from $3M to $100M. I am passionate about real estate investment and development, economics, technology and urbanism. Through brokerage I assist apartment investors and developers in achieving the highest possible levels of return and build an advisory relationship that lasts ownership life-cycles instead of just a transaction.
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The Seattles that might have been

The Seattles that might have been | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

Seattle could have looked very different from what we know today: "However improbably some of these projects might sound, all (except perhaps the Queen Anne regrade, which seems to have been only rumored, never attempted) were seriously proposed by architects, engineers, officials or civic commissions. "

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Value of Seattle-area commercial construction starts drops more than half compared to last year

Value of Seattle-area commercial construction starts drops more than half compared to last year | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

The value of commercial starts may have dropped, but residential seems to be going strong: "On the residential side, however, the value of multifamily and single-family starts through April jumped 42 percent to just over $2.9 billion."

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Apartment Market Weathers the Storm of New Supply

Apartment Market Weathers the Storm of New Supply | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

"High occupancy rates are helping keep apartment rents high and rising. 'Rent growth—while below the cycle’s peaks—has outperformed many investors’ expectations,' says Willett. Same-property rents for new leases climbed 2.6 percent in first quarter compared to the year before. That’s about the same as the rate of rent growth has been over the last four quarters, according to RealPage."

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Seattle DJC.com local business news and data - Architecture & Engineering - Durkan to fast-track backyard cottages

Dylan Simon's insight:

"Seattle will fast-track preapproved designs for detached accessory dwelling units (DADUs) and hire architects to develop several standard architectural plans for backyard cottages that could be built and permitted more quickly and at a lower cost."

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Yardi: Multifamily Rent Growth Stays Strong in April | Multifamily Executive Magazine | Rents, Rent Trends, Apartment Trends, Supply and Demand, Economic Conditions, Economics, Rent Growth, Rental ...

Yardi: Multifamily Rent Growth Stays Strong in April | Multifamily Executive Magazine | Rents, Rent Trends, Apartment Trends, Supply and Demand, Economic Conditions, Economics, Rent Growth, Rental ... | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

"Gains in high-growth Western tech markets, including San Jose, Calif.; Seattle; Denver; and San Francisco, were at above-trend levels in the latest three-month period following a longtime deceleration trend from 2015 to 2017.

 

On a trailing three-month (T-3) basis, which compares the past three months to the previous three months, rents increased by 0.3% at the national level. San Jose led the nation, with 0.7% rent growth on a T-3 basis, while Chicago, Denver, and Seattle bounced back at 0.4% after short-term rent declines in late 2017 to early 2018."

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Seattle City Council reaches head tax compromise ahead of vote

Seattle City Council reaches head tax compromise ahead of vote | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

Seattle City Council discussing compromise for head tax: "Under the compromise, the tax will be reduced from the proposed $500 per full-time employee to $275 and will be scheduled to end in 2023. More details are to come before the council's afternoon vote."

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Redfin migration report finds a first for Seattle: More users searching for a way out of city than in –

Redfin migration report finds a first for Seattle: More users searching for a way out of city than in – | Dylan Simon -- Colliers International | Scoop.it

"For the first time, Seattle saw more Redfin users — those shopping for a place to live — looking to leave the area than to move into it."

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Seattle traffic congestion is ninth worst in U.S.; eight cities in top 10 are vying for Amazon’s HQ2 –

Seattle traffic congestion is ninth worst in U.S.; eight cities in top 10 are vying for Amazon’s HQ2 – | Dylan Simon -- Colliers International | Scoop.it
Too bad it’s against the law now in Washington state to look at your mobile device while you’re behind the wheel, otherwise you could read, again, about…
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King County property taxes rising between 9 and 31% — depending on your city

King County property taxes rising between 9 and 31% — depending on your city | Dylan Simon -- Colliers International | Scoop.it
Countywide, the 2018 property tax bills being sent out soon will be 17 percent higher on average than last year's. A spokesman for the assessor says it's "the largest property-tax increase in King County in modern history."
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This was the pits: Time-lapse video shows highway fill in hole where Seattle tunnel machine ended

This was the pits: Time-lapse video shows highway fill in hole where Seattle tunnel machine ended | Dylan Simon -- Colliers International | Scoop.it
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2018 edition: What does it really cost to live in Seattle?

2018 edition: What does it really cost to live in Seattle? | Dylan Simon -- Colliers International | Scoop.it
Let's start with the news that Seattle has risen to sixth place on the list of the most expensive places to live, according to figures from the Arlington, Virginia-based Center for Regional Economic Competitiveness (CREC).
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Seattle can move forward with Burke-Gilman Trail’s missing link, hearing examiner says

Seattle can move forward with Burke-Gilman Trail’s missing link, hearing examiner says | Dylan Simon -- Colliers International | Scoop.it
Construction on the missing link is tentatively scheduled to begin this year. But a lawyer for the coalition challenging the city, while stopping short of promising an appeal, said the group would “pursue all of its options.”
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15 months and counting: Seattle retains title as the nation’s hottest housing market

15 months and counting: Seattle retains title as the nation’s hottest housing market | Dylan Simon -- Colliers International | Scoop.it
Home prices in Seattle continue to climb faster than any other city in the nation, giving the Emerald City the title of the hottest housing market for the…
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Seattle Metro Report: June 2018

Seattle Metro Report: June 2018 | Dylan Simon -- Colliers International | Scoop.it
Check out the latest Seattle Metro Rent Report for June 2018 to see the most and least expensive cities and cities with the fastest growing rents.
Dylan Simon's insight:

Seattle Area Rent Growth - The Fastest Growing Cities (Y/Y%)

–Kirkland, WA had the fastest growing rent since this time last year, up 15.7%.

–Burien, WA rent had the second largest year over year growth rate, climbing 15.5%.

–Puyallup, WA ranked as third with rent growing 14.3%.

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Seattle DJC.com local business news and data - Real Estate - Simon says Tacoma Mall next for redevelopment

Seattle DJC.com local business news and data - Real Estate - Simon says Tacoma Mall next for redevelopment | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

"A crucial difference between Simon's plans for Tacoma Mall and Northgate is that the latter will be served by light rail, beginning in 2021. Tacoma Mall is beyond the southern terminus of Sound Transit's light rail, which is expected to reach Tacoma in 2030.

 

The city's subarea plan does mention as a goal the possible light-rail extension to the mall, but that would have to be part of a future Sound Transit funding package."

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Looking to Upgrade? Here's How Much It Costs to Rent a High-End Apartment Around the Country

Looking to Upgrade? Here's How Much It Costs to Rent a High-End Apartment Around the Country | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

“The national average rent in a high-end building is around $1,640 per month, about $490 more than an apartment in a low-end building. However, these broad-based averages do not mean much, as prices can vary by thousands of dollars from one city to another.”

Seattle Statistics:

Average rent in a high-end apartment: $2,261

Price range: $1,723 (studio) to $3,595 (3-bed)

Change in high-end rents in the last 3 years: +13.2%

Price difference compared to a low-end apartment: $644

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'Overheated' Seattle and S.F. will have highest U.S. construction cost increases in 2018, report says

'Overheated' Seattle and S.F. will have highest U.S. construction cost increases in 2018, report says | Dylan Simon -- Colliers International | Scoop.it
Seattle and San Francisco, two booming tech hubs, will see the fastest construction cost increases in the U.S. this year, according to a new report.
Dylan Simon's insight:

"Both cities will see costs rise by 5 percent, outpacing the expected 4.3 percent increase in the top 46 global markets, according to the company's annual International Construction Market Survey. The expected rate of cost escalation for San Francisco is unchanged from 2017, when it also rose 5 percent."

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New close-in condos in Seattle for $250,000? Here's the plan from Build Urban

New close-in condos in Seattle for $250,000? Here's the plan from Build Urban | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

Efficiency apartment units (SEDUs, Micros, etc.) have taken off in Seattle with 5,000 delivered and another 7,000 in various stages of the development pipeline. Is the next trend efficiency condos? - “They'll be small, averaging just 250 square feet, plus a sleeping loft. But priced in the mid-$200,000s, the condominiums in the Eastlake neighborhood will be the most affordably priced new condos in Seattle.”

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New York Remains Top City for Transit | Multifamily Executive Magazine | Transit-Oriented Development, Urban Development, Walkability, Transportation, Urban Planning

New York Remains Top City for Transit | Multifamily Executive Magazine | Transit-Oriented Development, Urban Development, Walkability, Transportation, Urban Planning | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

“In seventh place, Seattle has a Transit Score of 59.6, up 2.6 points since 2016, the biggest jump among the top 10…. A 2017 survey by the Seattle Department of Transportation found that public transit use had increased by 48% in the past seven years.”

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Apartment Completions Reach 30-Year High in 2017 | Multifamily Executive Magazine | Multifamily Trends, Absorption Rates, Occupancy and Vacancy Rate, Apartment Trends, Supply and Demand, Rental Market

Apartment Completions Reach 30-Year High in 2017 | Multifamily Executive Magazine | Multifamily Trends, Absorption Rates, Occupancy and Vacancy Rate, Apartment Trends, Supply and Demand, Rental Market | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

Seattle comes in at #6 for Metro Apartment Supply Leaders in 2017, with 11,415 units delivered in 2017 according to RealPage – and there’s plenty left in our pipeline!

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Clark Construction Group Takes a Look at Defining Market Trends in the Year Ahead

Clark Construction Group Takes a Look at Defining Market Trends in the Year Ahead | Dylan Simon -- Colliers International | Scoop.it
All markets are hot. The Puget Sound construction market is well diversified. High-rise residential and office, healthcare, higher education, transportation, hospitality, and K-12 are all going strong. Local, National and foreign investors are all jumping on the Seattle bandwagon, and unlike typical markets where the general theme is cyclical change, this is not the current state in Seattle.
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24-Hour Classic 13 Coins Is Reborn in Pioneer Square

24-Hour Classic 13 Coins Is Reborn in Pioneer Square | Dylan Simon -- Colliers International | Scoop.it
Look inside the new location opening at 6 a.m. on February 10
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Apartment Rents Rise in 89% of Cities

Apartment Rents Rise in 89% of Cities | Dylan Simon -- Colliers International | Scoop.it
Citing Yardi Matrix data, RentCafe reported Wednesday that rents grew year over year in 89% of the 250 largest US cities during January. Nine percent registered flat growth for the month, while just 2%, or six cities, experienced a Y-O-Y decline.
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Charted: Transportation 2040 in the Puget Sound

Charted: Transportation 2040 in the Puget Sound | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

You may already be dreading your commute tomorrow, but what about in 22 years?

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