A transit-oriented development boom in Southeast Seattle is coming to a halt, as the economic recession sets in.
"Planners, politicians and developers anticipated the coming rail line would spark a redevelopment boom that would transform the long-neglected corridor along Martin Luther King Jr. Way South. For-profit developers proposed more than 1,500 condos and apartments within a 10-minute walk of a station.
Now, with the trains to carry their first paying passengers in three months, most of those deals are on hold.
Project after project has been delayed or derailed, victimized by tight credit and related economic woes."
Thanks to Sightline Institute
FULL STORY: Recession stalls building boom along South Seattle light-rail tracks
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City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research