Rumors of a Boutique Market

During the tour of Kirkland Tower I heard a rumor from a solid source that another market is headed to the urban core. If this turns out to be true, it will be excellent news for the city center which lacks for little but has no operating super market.

I was a bit surprised when New Seasons announced their intention to build a store in midtown at 15th and Washington. Although this is excellent news, it is surprising that they didn’t bite on an opportunity to build that store on Block Ten when Gramor was planning to build there. But this new potential market location is on the Waterfront. With thousands of units coming online Downtown there is definitely room for a market at the south end of the urban core.

The Waterfront currently has 270 leasable residential units with rather tight vacancy. Under construction now is another 652 apartments and 40 condos of which 298 units will be available for occupancy this year. There is already another 650 units working through the permitting process for the Waterfront alone, those units should arrive to market in 2023 and 2024.

Downtown and Uptown collectively have hundreds of units under construction or planned as well. These units along with the Waterfront and existing homes will provide a nice consumer base for both the New Seasons Market and a rumored boutique market. The build-out target of 3300 residential units on the Waterfront is still realistic and seems to be a reasonable projection right now based on the per block averages for completed, under construction, and proposed projects.

Overall the addition of the New Seasons market and this rumored market at the Waterfront should create Esther Short as a neighborhood walker’s paradise.

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