KING 5: Seattle set for growth and global spotlight in 2025, leaders say

President and CEO Jon Scholes highlighted a series of civic, business and residential projects.

“We have great momentum in our downtown and so many great assets to work with,” said Scholes.

He specifically highlighted the opening of Overlook Walk, the $70 million multi-level park built along the footprint of the Alaskan Way Viaduct, torn down in 2019. According to the DSA, pedestrian volume in the park’s first week was 140% compared to foot traffic in the same area during the same week in 2023.

Scholes said 88 new street level businesses opened in 2024, with 3,000 residential units added.

He said there are more residential units currently under construction than any city west of Chicago.

“Now it’s time to put it into another gear. To recruit new retail, to recruit office tenants, to welcome back locals which is so critical for the health of any downtown,” he told KING 5. “Locals love this downtown. They’re rooting for it. They understand that for the city to be healthy, downtown has to be healthy.”

But Scholes admitted there are still challenges facing the city.

“We need to make sure our streets are safe and healthy for everybody. We’re seeing a reduction in violent crime, fewer people using drugs and dying from drugs on the streets,” he said. “And we have a lot of vacancy to contend with, but we’re seeing more businesses open than close and we have a number of new businesses, restaurants and retailers that will announce their openings here in the next couple of months.”

In his address to the audience, Scholes highlighted additional development along the waterfront, including the Elliott Bay Connections.

He added that there are nearly 100 conventions booked this year, expected to bring 370,000 visitors to the downtown area on top of the traditional summer tourism spike.