The need for affordable commercial space is palpable for small business. Lease rates must be affordable small businesses to survive. SEED works to identify commercial sites, marshal the required capital, and put the real estate development projects together. SEED develops mixed use, commercial, office, and industrial space. SEED is resource and well connected in the real estate community to accommodate most space needs of businesses.
One tool SEED uses to create affordable commercial space is commercial condominiums. Commercial Suites. In 2014, SEED sold four commercial condominiums to expanding local businesses in Southeast Seattle. Owning the space is not only a sound investment in an up and coming area, but is a hedge against real estate cost inflation going forward. For many businesses this makes sense. SEED is in the permitting phase for another mixed use project – the fourth and final phase of our Rainier Court development near the Mt. Baker Light Rail station – which will include seven first floor commercial condos.
Another type of accessible commercial space is a makerspace or shared workspace – similar to a business incubator or accelerator. SEED has developed two such spaces, one in Rainier Beach (the Rainier Beach Food & Farm Hub on Director Street) and one in Hillman City (the SEEDArts Studios and SEEDLab second floor space at Rainier and Orcas).
For a list of SEED’s active mixed use and commercial facilities and spaces developed or redeveloped by SEED, please see Commercial Suites.
For more information, please contact Lance Randall, SEED Director of Economic Development: email@example.com