Search
 

Seattle May Be the Bigger Market, But Tacoma Is the More Efficient One

TACOMA, WA-The permit process for a 10-story office building in Seattle can take two to three years, while the process for the same development here is likely to take only a year.

By Janet Parker | Updated on January 29, 2001

TACOMA, WA-If time matters, build here, say Cameron Fletcher and Eric Cederstrand of Colliers International, who have represented numerous developers on projects in both Tacoma and Seattle. According to Cederstrand, the pre-construction process in Seattle now takes two to three years. The same project in Tacoma is likely to take only a year.

“Say you’re carrying $2 million in your land at 10%-12% over those years…it gets expensive,” says Cederstrand, who along with Fletcher gives the credit to the city’s Building and Land Use Services Division and its manager Gary Pedersen. So using the example of a 10-story office building, GlobeSt asked Pedersen what a developer might expect.

“The first thing we ask is ‘what is your timeline?’” says Pedersen. “Then we arrange review times for the various elements according to their timing. We become part of the team.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.