Mixed-use, transit access, and height & density aren’t just for residential and commercial development anymore.
Prologis is breaking ground on this double-decker warehouse development in Seattle on Monday, which stacks one warehouse on top of another (height), packs more development and action onto the same footprint (density), has light-industrial and tech business of a 3rd floor on top of the warehouse (mixed use), and allows giant trucks on a second floor loading dock (!) (transit access).
It’s also going to create hundreds of jobs.
The Wall Street Journal reported on the project late last year:
In the U.S., plenty of open space is available in rural areas and suburbs. But as e-commerce sales grow, many retailers are bringing warehouse operations closer to their customers, who increasingly demand speedy delivery. Available warehouse space has hit record lows in many urban markets in the U.S., driving up the value of industrial land and pushing rental rates to new heights.
“Major urban areas are running out of industrial space,” said Hamid Moghadam, chief executive of Prologis. “The only way the logistics sector can compete is with this more dense format.”