Addimando: How Does Seattle Cope With Hyper-Growth?
Who wouldn’t be interested in going to Seattle and learning more about how a city copes with the hyper growth of the fastest growing company in the history of humankind? Whether or not Amazon comes to Philadelphia, there is much to be learned from the forced transformation that Microsoft started in Seattle, that has since been put into hyperdrive by Amazon.
A thriving tech community and record setting job growth can do a lot to turbocharge a local economy. But they also come with a whole host of unintended consequences, especially for the people left on the outside looking in. So, how has Seattle dealt with skyrocketing housing costs, urban infill, gentrification (can we use that term anymore?), population growth, etc. What other sectors of the economy have been positively or adversely effected by all of this tech growth?
As a citizen of Philadelphia and a real estate developer, all of these issues feel relevant to how our city will can evolve over the next decade or more, so why not learn as much as possible about the experiences of another great city?
Leo Addimando is Managing Partner at Alterra Property Group, LLC