ISSAQUAH, Wash. — The housing market on the Eastside is exploding.
Quick Facts:
- Three housing projects under construction in Issaquah Highlands
- Some apartments more expensive than downtown Seattle
- Projects will add 650 new units to the area
- Totem Lake Mall to get $200 million renovation as part of area's growth
The newest evidence is a wave of apartment buildings that will add hundreds of residents to the Issaquah Highlands.
Those who think the new housing projects there may be lower priced than Seattle apartment rental rates, because they’re farther away, may be surprised.
One project, the Issaquah Terrace apartments, is more expensive than some in downtown Seattle.
The three housing projects currently under construction in the Highlands will add 650 units to the area, which has already seen tremendous growth over the past several years.
They're being built as Urban Village concept projects, a zoning designation that helps fast-track development.
But they are not entry-level apartments. A one bedroom apartment at Issaquah Terrace will rent for $1,750 a month.
At Discovery West apartments, a one bedroom apartment will cost between $1,600 and $2,000 a month.
The apartments are more on the luxury side, compared to the more affordable developments such as the nearby Lauren Heights, where one bedroom apartments rent for $450 to $950 a month.
Another new sign of growth on the Eastside is news that the old Totem Lake Mall in Kirkland is going to get a major upgrade.
It will undergo a more than $200 million renovation, anchored by a theater and retail stores, restaurants and hundreds of new apartments.
After a decade of redevelopment plans, construction could begin as early as next year.
KIRO
