Pioneer Square District Market Study

March 2023

Final Report

Prepared for:

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As Seattle’s oldest neighborhood, Pioneer Square is rich in history and amenities. The area is home to a thriving arts, culture, and music scene, and also offers a broad range of social services for communities in need of support. The area boasts entertainment destinations, civic destinations, and major employers that make Pioneer Square a unique place to visit, shop, live, and work.

The COVID-19 pandemic had significant effects on Seattle’s Downtown and the Pioneer Square District, including a decline in foot traffic, an increase in remote and hybrid work, closure of retail and restaurant businesses, changes in consumer behavior, and changes in commute patterns. These disruptions to traditional patterns of work, commerce, and consumer behavior have had a significant and lasting impact on Pioneer Square.

The Alliance for Pioneer Square is taking action responding to the pandemic and making Pioneer Square resilient by advancing economic vitality and supporting new and existing businesses in the area. This is in response to changes in the neighborhood landscape caused by the pandemic.

This market study aims to provide a baseline understanding of current market conditions for commercial and residential real estate, shifts in employment trends, and visitor trends to inform strategic actions that could be implemented to support economic development opportunities in creating a more resilient Pioneer Square District.