city of lakewood economic development … of lakewood economic development newsletter fall 2017 ......
TRANSCRIPT
Lakewood IndexCity of Lakewood Economic Development newsletter Fall 2017
Central Business District Subarea PlanWhat if Lakewood had a designated downtown How would you want it to look Do you like whatrsquos there now or would you want something different The city is seeking answers to these questions and others as part of a public process
This Fall the city embarks on a year-long planning process to improve its Central Business District (CBD) This area is 290 acres and includes the Lakewood Towne Center and Colonial Center shopping areas With the adop-tion of a City Vision in 2014 the City is finalizing its strategic plan and looking to make significant improvements to its central shopping core That includes creating a true downtown with parks mixed uses increased density and community gathering spaces
A retail market analysis of the area identified factors that could impact the cityrsquos ability to steer and influence redevelopment of the outdated strip mall-style shopping complexes that comprise the commercial central business district
We encourage your input Check our website for opportunities to comment
Marriott TownePlace Suites 120-suite hotel complete with a pool and meeting room opens on Dec 5 on Pacific Highway next to the Holiday Inn
Harbor Freight Permits were issued in August for a new 14000-square-foot store next to the new Advanced Auto Parts and down the street from the new Welcherrsquos Indoor Range
Hop Jacks will open mid-November in Lakewood Towne Center
Chick-Fil-A will open in March 2018 and Firehouse Subs has secured a site at the Lake-wood Pavilion
These are just a few of the businesses wersquove welcomed in the last few months Check out our online brochure for a listing of ldquoNow Openrdquo ldquoComing Soonrdquo and ldquoIn the Worksrdquo projects and learn why Lakewood is the choice for business
Whorsquos doing business in Lakewood
Now OpenBlack Bear Diner Chronic Tacos
Chipotle Grill Party City
MOD PizzaThe Gyro Shack
Coming Soon
Smokinrsquo Zees BBQ IC Poke
Lakewood DiningLocal restaurants offer international flavors
Lakewoodrsquos culinary offerings feature flavors from around the world making it the destination for dining in the South Sound
The Gyro Shack Lakewood is home to the first The Gyro Shack establishment in the South Sound Its owners opened a previous restaurant franchise in the city 22 years ago and when it came time to expand the fast affordable Greek food franchise they came here first Made-to-order gyros are the specialty with meat carved off the spit and fresh ingre-dients Therersquos also veggie options Greek salads and hummus and pitas for vegetar-ians Address 10519 Bridgeport Way SW
Moon Rise Cafeacute
This family-owned business is open for breakfast and lunch with a focus on fresh and local Its hearty breakfast menu fea-tures a ldquoClassic Breakfastrdquo of eggs bacon hash browns and toast while lunch offerings include homemade soups salads and sandwiches Address 6020 Main St SW
Chang Thai
Therersquos something for everyone at this newly opened restau-rant Dishes come with healthy helpings of fresh herb garnish-es like basil cilantro and lemongrass and house-made dipping sauces Address 8215 Steilacoom BLVD SW
Steeped In Comfort
While Steeped In Comfort specializes in loose teas and sells them by the ounce donrsquot let its name fool you It also offers homemade soups sandwiches and delicious baked treats like scones and cookies offering the perfect lunch spot to catch up with friends Address 11016 Gravelly Lake DR SW
Kimchi Bistro
Donrsquot let the size of this quaint restaurant and its small staff fool you Kimchi Bistro offers authentic Korean food and excellent service The business is located in an existing Korean grocery store and can be difficult to find so keep your eyes peeled Address 11715 Bridgeport Way SW
Business ShowcaseCR Coachworks Chambers Creek Veterinary Hospital Hess Bakery amp Deli
Harborstone Credit UnionWhether itrsquos volunteering for street clean ups gathering school supplies or participating in Operation Turkey Drop where turkeys are delivered to Joint Base Lewis-McChord Harborstone Credit Union and its employees give back to the communities they serve
Founded in 1955 the member-owned not-for-profit organization initially served the regionrsquos military members By the 1980s it built its first location off base in the heart of Lakewood By the mid-1990s it was granted a community charter allowing it to expand membership to the general population
Today Harborstone serves its 80000 members with branches in Pierce Thurston and King Counties and employs 240 people One hundred of those are in the Lakewood area Read more
JampJ Autobody
When JampJ Autobody opened 42 years ago on South Tacoma Way the auto repair business had one building with three stalls Today its operations are spread across 38000 square feet of real estate and four buildings ndash the body shop paint shop frame shop and detail shop The business also has 16000 square feet of fenced storage
Owner Bill Jensen has come a long way from that first day of work when he was ldquopushing a broomrdquo around the shop he opened with his brother Despite the growth hersquos remained focused on his customers using the saying ldquostill small enough to carerdquo as a guiding principle
Instead of advertising Jensen relies on word of mouth and its reputation over the years as the place to go to have a car repaired Read more
Aacres LLCAacres LLC has a simple philosophy We say lsquoYesrsquo Since purchasing Aacres in 2014 Embassy Management LLC has established an accommodating environment focused on meeting client needs Thatrsquos important because Aacres has a goal to serve ldquoevery indi-vidual that comes to usrdquo
Founded in Lakewood in 1974 Aacres provides community support for people with developmental disabilities Its focus is to con-nect clients with residential services with the intent to give them as much power choice and independence as possible Clients range from high-functioning with minimal need for assistance to those who need care 24 hours a day seven days a week Read more
Economic IncentivesWhy you should choose Lakewood
Local Incentives State Federal Incentivesbull Strategically located Ports of Seattle Tacoma
bull No local BampO Tax no development impact fees
bull No added minimum wage requirement
bull FREE commercial construction watch program
bull FREE business watch program retail
bull Low business licensing fee
bull Within Foreign Trade Zone 86
bull HUD Section 108 lending program
bull HUB Zone EB5 Foreign Direct Investment New Market Tax Credit eligible areas
bull Two colleges Pierce College amp Clover Park Tech
bull Workforce customized training
bull Direct Sounder commuter rail service to Seattle
bull $50 million capital improvements planned
bull Multifamily Tax Exemption Program
bull Diversified residential opportunities
bull Site selection ldquowrap-aroundrdquo business services
bull Beautiful parks lakes and open spaces
Attend an upcoming forum
Minimum Wage Increase and Sick Leave Implementation ForumNovember 16 8-10 amLakewood City Hall 6000 Main St SWEvent details
Did you knowThe Tacoma Country and Golf Club was established in 1894 to attract the rich and famous The first golf club west of the Mississippi it featured trolley transportation from Tacoma to the playground on The Prairie The Oakes Pavilion on Lake Stei-lacoom opened in 1923 offered boating bathing and picnic grounds In 1938 develoepr Norton Clapp converted it to the Lakewood Ice Arena
bull No corporate income tax
bull No personal inventory or unitary taxes
bull Sales Tax exemption on machinery amp equipment
bull Manufacturing technology amp green credits
Federal Work Opportunity Tax Credit (WOTC)
State of Washington BampO Tax or Public Utility Tax (PUT) Credit for Unemployed Veterans
Job training funds are available through any of our licensed educational institutions The state of Washington Job Skills Program grants half of the training costs which are matched equally by the employers
The Washington Small Business Credit Initiative is a collec-tion of financing programs the newest of which is a Col-lateral Support Program to encourage local banks to lend funds to small businesses The program is aligned with SBA 504 loans and provides cash collateral for small businesses to help them qualify for bridge loans into SBA 504 loans
To find out how you can take advantage of these incentives and more contact the City of Lakewood Economic Devel-opment office at 253-983-7738
Economic IndicatorsA snapshot at Lakewoodrsquos economic climate
Becky NewtonEconomic Development Managerbnewtoncityoflakewoodus253-983-7738 cityoflakewooduseconomic-development
Full report
Lakewood Pierce County Lakewood Pierce CountyKing CountyVacancy Rate 38 40 46 52 52 56Cap Rate 65 61 48 74 66 51
Studio $662 $943 $1330 $606 $830 $11341 Bedroom $819 $983 $1538 $700 $838 $12812 Bedroom $1011 $1180 $1834 $862 $1003 $15203+ Bedroom $1460 $1500 $2059 $1197 $1274 $1834
Multifamily
ASKING RENTS
Survey (1115-8117) King County
5-Year Average
Median sales price $288000Avg list price $324000Active listings 95
Gravelly Lake Dr amp 100th St 19345Pacific Hwy amp 108th St 23572S Tacoma Way amp Steilacoom Blvd 29398
JBLM 55000Madigan Army Hospital 5200Western State Hospital 2206Clover Park School District 1629Pierce College 1308 Camp Murray 980
St Clare HospitalFranciscan 907Aacres WA LLC 562McLane Northwest 436Greater Lakes Mental Health 358Walmart Supercenter 341
Population 58800Daytime population 92069Median age 36Avg family income (2015) $74705Graduation rate 90 percent
Largest Private Employers
Largest Public Employers
General Demographics
Avg Daily Traffic Volume
Residential Real Estate 2nd Qtr
Lakewood DiningLocal restaurants offer international flavors
Lakewoodrsquos culinary offerings feature flavors from around the world making it the destination for dining in the South Sound
The Gyro Shack Lakewood is home to the first The Gyro Shack establishment in the South Sound Its owners opened a previous restaurant franchise in the city 22 years ago and when it came time to expand the fast affordable Greek food franchise they came here first Made-to-order gyros are the specialty with meat carved off the spit and fresh ingre-dients Therersquos also veggie options Greek salads and hummus and pitas for vegetar-ians Address 10519 Bridgeport Way SW
Moon Rise Cafeacute
This family-owned business is open for breakfast and lunch with a focus on fresh and local Its hearty breakfast menu fea-tures a ldquoClassic Breakfastrdquo of eggs bacon hash browns and toast while lunch offerings include homemade soups salads and sandwiches Address 6020 Main St SW
Chang Thai
Therersquos something for everyone at this newly opened restau-rant Dishes come with healthy helpings of fresh herb garnish-es like basil cilantro and lemongrass and house-made dipping sauces Address 8215 Steilacoom BLVD SW
Steeped In Comfort
While Steeped In Comfort specializes in loose teas and sells them by the ounce donrsquot let its name fool you It also offers homemade soups sandwiches and delicious baked treats like scones and cookies offering the perfect lunch spot to catch up with friends Address 11016 Gravelly Lake DR SW
Kimchi Bistro
Donrsquot let the size of this quaint restaurant and its small staff fool you Kimchi Bistro offers authentic Korean food and excellent service The business is located in an existing Korean grocery store and can be difficult to find so keep your eyes peeled Address 11715 Bridgeport Way SW
Business ShowcaseCR Coachworks Chambers Creek Veterinary Hospital Hess Bakery amp Deli
Harborstone Credit UnionWhether itrsquos volunteering for street clean ups gathering school supplies or participating in Operation Turkey Drop where turkeys are delivered to Joint Base Lewis-McChord Harborstone Credit Union and its employees give back to the communities they serve
Founded in 1955 the member-owned not-for-profit organization initially served the regionrsquos military members By the 1980s it built its first location off base in the heart of Lakewood By the mid-1990s it was granted a community charter allowing it to expand membership to the general population
Today Harborstone serves its 80000 members with branches in Pierce Thurston and King Counties and employs 240 people One hundred of those are in the Lakewood area Read more
JampJ Autobody
When JampJ Autobody opened 42 years ago on South Tacoma Way the auto repair business had one building with three stalls Today its operations are spread across 38000 square feet of real estate and four buildings ndash the body shop paint shop frame shop and detail shop The business also has 16000 square feet of fenced storage
Owner Bill Jensen has come a long way from that first day of work when he was ldquopushing a broomrdquo around the shop he opened with his brother Despite the growth hersquos remained focused on his customers using the saying ldquostill small enough to carerdquo as a guiding principle
Instead of advertising Jensen relies on word of mouth and its reputation over the years as the place to go to have a car repaired Read more
Aacres LLCAacres LLC has a simple philosophy We say lsquoYesrsquo Since purchasing Aacres in 2014 Embassy Management LLC has established an accommodating environment focused on meeting client needs Thatrsquos important because Aacres has a goal to serve ldquoevery indi-vidual that comes to usrdquo
Founded in Lakewood in 1974 Aacres provides community support for people with developmental disabilities Its focus is to con-nect clients with residential services with the intent to give them as much power choice and independence as possible Clients range from high-functioning with minimal need for assistance to those who need care 24 hours a day seven days a week Read more
Economic IncentivesWhy you should choose Lakewood
Local Incentives State Federal Incentivesbull Strategically located Ports of Seattle Tacoma
bull No local BampO Tax no development impact fees
bull No added minimum wage requirement
bull FREE commercial construction watch program
bull FREE business watch program retail
bull Low business licensing fee
bull Within Foreign Trade Zone 86
bull HUD Section 108 lending program
bull HUB Zone EB5 Foreign Direct Investment New Market Tax Credit eligible areas
bull Two colleges Pierce College amp Clover Park Tech
bull Workforce customized training
bull Direct Sounder commuter rail service to Seattle
bull $50 million capital improvements planned
bull Multifamily Tax Exemption Program
bull Diversified residential opportunities
bull Site selection ldquowrap-aroundrdquo business services
bull Beautiful parks lakes and open spaces
Attend an upcoming forum
Minimum Wage Increase and Sick Leave Implementation ForumNovember 16 8-10 amLakewood City Hall 6000 Main St SWEvent details
Did you knowThe Tacoma Country and Golf Club was established in 1894 to attract the rich and famous The first golf club west of the Mississippi it featured trolley transportation from Tacoma to the playground on The Prairie The Oakes Pavilion on Lake Stei-lacoom opened in 1923 offered boating bathing and picnic grounds In 1938 develoepr Norton Clapp converted it to the Lakewood Ice Arena
bull No corporate income tax
bull No personal inventory or unitary taxes
bull Sales Tax exemption on machinery amp equipment
bull Manufacturing technology amp green credits
Federal Work Opportunity Tax Credit (WOTC)
State of Washington BampO Tax or Public Utility Tax (PUT) Credit for Unemployed Veterans
Job training funds are available through any of our licensed educational institutions The state of Washington Job Skills Program grants half of the training costs which are matched equally by the employers
The Washington Small Business Credit Initiative is a collec-tion of financing programs the newest of which is a Col-lateral Support Program to encourage local banks to lend funds to small businesses The program is aligned with SBA 504 loans and provides cash collateral for small businesses to help them qualify for bridge loans into SBA 504 loans
To find out how you can take advantage of these incentives and more contact the City of Lakewood Economic Devel-opment office at 253-983-7738
Economic IndicatorsA snapshot at Lakewoodrsquos economic climate
Becky NewtonEconomic Development Managerbnewtoncityoflakewoodus253-983-7738 cityoflakewooduseconomic-development
Full report
Lakewood Pierce County Lakewood Pierce CountyKing CountyVacancy Rate 38 40 46 52 52 56Cap Rate 65 61 48 74 66 51
Studio $662 $943 $1330 $606 $830 $11341 Bedroom $819 $983 $1538 $700 $838 $12812 Bedroom $1011 $1180 $1834 $862 $1003 $15203+ Bedroom $1460 $1500 $2059 $1197 $1274 $1834
Multifamily
ASKING RENTS
Survey (1115-8117) King County
5-Year Average
Median sales price $288000Avg list price $324000Active listings 95
Gravelly Lake Dr amp 100th St 19345Pacific Hwy amp 108th St 23572S Tacoma Way amp Steilacoom Blvd 29398
JBLM 55000Madigan Army Hospital 5200Western State Hospital 2206Clover Park School District 1629Pierce College 1308 Camp Murray 980
St Clare HospitalFranciscan 907Aacres WA LLC 562McLane Northwest 436Greater Lakes Mental Health 358Walmart Supercenter 341
Population 58800Daytime population 92069Median age 36Avg family income (2015) $74705Graduation rate 90 percent
Largest Private Employers
Largest Public Employers
General Demographics
Avg Daily Traffic Volume
Residential Real Estate 2nd Qtr
Business ShowcaseCR Coachworks Chambers Creek Veterinary Hospital Hess Bakery amp Deli
Harborstone Credit UnionWhether itrsquos volunteering for street clean ups gathering school supplies or participating in Operation Turkey Drop where turkeys are delivered to Joint Base Lewis-McChord Harborstone Credit Union and its employees give back to the communities they serve
Founded in 1955 the member-owned not-for-profit organization initially served the regionrsquos military members By the 1980s it built its first location off base in the heart of Lakewood By the mid-1990s it was granted a community charter allowing it to expand membership to the general population
Today Harborstone serves its 80000 members with branches in Pierce Thurston and King Counties and employs 240 people One hundred of those are in the Lakewood area Read more
JampJ Autobody
When JampJ Autobody opened 42 years ago on South Tacoma Way the auto repair business had one building with three stalls Today its operations are spread across 38000 square feet of real estate and four buildings ndash the body shop paint shop frame shop and detail shop The business also has 16000 square feet of fenced storage
Owner Bill Jensen has come a long way from that first day of work when he was ldquopushing a broomrdquo around the shop he opened with his brother Despite the growth hersquos remained focused on his customers using the saying ldquostill small enough to carerdquo as a guiding principle
Instead of advertising Jensen relies on word of mouth and its reputation over the years as the place to go to have a car repaired Read more
Aacres LLCAacres LLC has a simple philosophy We say lsquoYesrsquo Since purchasing Aacres in 2014 Embassy Management LLC has established an accommodating environment focused on meeting client needs Thatrsquos important because Aacres has a goal to serve ldquoevery indi-vidual that comes to usrdquo
Founded in Lakewood in 1974 Aacres provides community support for people with developmental disabilities Its focus is to con-nect clients with residential services with the intent to give them as much power choice and independence as possible Clients range from high-functioning with minimal need for assistance to those who need care 24 hours a day seven days a week Read more
Economic IncentivesWhy you should choose Lakewood
Local Incentives State Federal Incentivesbull Strategically located Ports of Seattle Tacoma
bull No local BampO Tax no development impact fees
bull No added minimum wage requirement
bull FREE commercial construction watch program
bull FREE business watch program retail
bull Low business licensing fee
bull Within Foreign Trade Zone 86
bull HUD Section 108 lending program
bull HUB Zone EB5 Foreign Direct Investment New Market Tax Credit eligible areas
bull Two colleges Pierce College amp Clover Park Tech
bull Workforce customized training
bull Direct Sounder commuter rail service to Seattle
bull $50 million capital improvements planned
bull Multifamily Tax Exemption Program
bull Diversified residential opportunities
bull Site selection ldquowrap-aroundrdquo business services
bull Beautiful parks lakes and open spaces
Attend an upcoming forum
Minimum Wage Increase and Sick Leave Implementation ForumNovember 16 8-10 amLakewood City Hall 6000 Main St SWEvent details
Did you knowThe Tacoma Country and Golf Club was established in 1894 to attract the rich and famous The first golf club west of the Mississippi it featured trolley transportation from Tacoma to the playground on The Prairie The Oakes Pavilion on Lake Stei-lacoom opened in 1923 offered boating bathing and picnic grounds In 1938 develoepr Norton Clapp converted it to the Lakewood Ice Arena
bull No corporate income tax
bull No personal inventory or unitary taxes
bull Sales Tax exemption on machinery amp equipment
bull Manufacturing technology amp green credits
Federal Work Opportunity Tax Credit (WOTC)
State of Washington BampO Tax or Public Utility Tax (PUT) Credit for Unemployed Veterans
Job training funds are available through any of our licensed educational institutions The state of Washington Job Skills Program grants half of the training costs which are matched equally by the employers
The Washington Small Business Credit Initiative is a collec-tion of financing programs the newest of which is a Col-lateral Support Program to encourage local banks to lend funds to small businesses The program is aligned with SBA 504 loans and provides cash collateral for small businesses to help them qualify for bridge loans into SBA 504 loans
To find out how you can take advantage of these incentives and more contact the City of Lakewood Economic Devel-opment office at 253-983-7738
Economic IndicatorsA snapshot at Lakewoodrsquos economic climate
Becky NewtonEconomic Development Managerbnewtoncityoflakewoodus253-983-7738 cityoflakewooduseconomic-development
Full report
Lakewood Pierce County Lakewood Pierce CountyKing CountyVacancy Rate 38 40 46 52 52 56Cap Rate 65 61 48 74 66 51
Studio $662 $943 $1330 $606 $830 $11341 Bedroom $819 $983 $1538 $700 $838 $12812 Bedroom $1011 $1180 $1834 $862 $1003 $15203+ Bedroom $1460 $1500 $2059 $1197 $1274 $1834
Multifamily
ASKING RENTS
Survey (1115-8117) King County
5-Year Average
Median sales price $288000Avg list price $324000Active listings 95
Gravelly Lake Dr amp 100th St 19345Pacific Hwy amp 108th St 23572S Tacoma Way amp Steilacoom Blvd 29398
JBLM 55000Madigan Army Hospital 5200Western State Hospital 2206Clover Park School District 1629Pierce College 1308 Camp Murray 980
St Clare HospitalFranciscan 907Aacres WA LLC 562McLane Northwest 436Greater Lakes Mental Health 358Walmart Supercenter 341
Population 58800Daytime population 92069Median age 36Avg family income (2015) $74705Graduation rate 90 percent
Largest Private Employers
Largest Public Employers
General Demographics
Avg Daily Traffic Volume
Residential Real Estate 2nd Qtr
Economic IncentivesWhy you should choose Lakewood
Local Incentives State Federal Incentivesbull Strategically located Ports of Seattle Tacoma
bull No local BampO Tax no development impact fees
bull No added minimum wage requirement
bull FREE commercial construction watch program
bull FREE business watch program retail
bull Low business licensing fee
bull Within Foreign Trade Zone 86
bull HUD Section 108 lending program
bull HUB Zone EB5 Foreign Direct Investment New Market Tax Credit eligible areas
bull Two colleges Pierce College amp Clover Park Tech
bull Workforce customized training
bull Direct Sounder commuter rail service to Seattle
bull $50 million capital improvements planned
bull Multifamily Tax Exemption Program
bull Diversified residential opportunities
bull Site selection ldquowrap-aroundrdquo business services
bull Beautiful parks lakes and open spaces
Attend an upcoming forum
Minimum Wage Increase and Sick Leave Implementation ForumNovember 16 8-10 amLakewood City Hall 6000 Main St SWEvent details
Did you knowThe Tacoma Country and Golf Club was established in 1894 to attract the rich and famous The first golf club west of the Mississippi it featured trolley transportation from Tacoma to the playground on The Prairie The Oakes Pavilion on Lake Stei-lacoom opened in 1923 offered boating bathing and picnic grounds In 1938 develoepr Norton Clapp converted it to the Lakewood Ice Arena
bull No corporate income tax
bull No personal inventory or unitary taxes
bull Sales Tax exemption on machinery amp equipment
bull Manufacturing technology amp green credits
Federal Work Opportunity Tax Credit (WOTC)
State of Washington BampO Tax or Public Utility Tax (PUT) Credit for Unemployed Veterans
Job training funds are available through any of our licensed educational institutions The state of Washington Job Skills Program grants half of the training costs which are matched equally by the employers
The Washington Small Business Credit Initiative is a collec-tion of financing programs the newest of which is a Col-lateral Support Program to encourage local banks to lend funds to small businesses The program is aligned with SBA 504 loans and provides cash collateral for small businesses to help them qualify for bridge loans into SBA 504 loans
To find out how you can take advantage of these incentives and more contact the City of Lakewood Economic Devel-opment office at 253-983-7738
Economic IndicatorsA snapshot at Lakewoodrsquos economic climate
Becky NewtonEconomic Development Managerbnewtoncityoflakewoodus253-983-7738 cityoflakewooduseconomic-development
Full report
Lakewood Pierce County Lakewood Pierce CountyKing CountyVacancy Rate 38 40 46 52 52 56Cap Rate 65 61 48 74 66 51
Studio $662 $943 $1330 $606 $830 $11341 Bedroom $819 $983 $1538 $700 $838 $12812 Bedroom $1011 $1180 $1834 $862 $1003 $15203+ Bedroom $1460 $1500 $2059 $1197 $1274 $1834
Multifamily
ASKING RENTS
Survey (1115-8117) King County
5-Year Average
Median sales price $288000Avg list price $324000Active listings 95
Gravelly Lake Dr amp 100th St 19345Pacific Hwy amp 108th St 23572S Tacoma Way amp Steilacoom Blvd 29398
JBLM 55000Madigan Army Hospital 5200Western State Hospital 2206Clover Park School District 1629Pierce College 1308 Camp Murray 980
St Clare HospitalFranciscan 907Aacres WA LLC 562McLane Northwest 436Greater Lakes Mental Health 358Walmart Supercenter 341
Population 58800Daytime population 92069Median age 36Avg family income (2015) $74705Graduation rate 90 percent
Largest Private Employers
Largest Public Employers
General Demographics
Avg Daily Traffic Volume
Residential Real Estate 2nd Qtr
Economic IndicatorsA snapshot at Lakewoodrsquos economic climate
Becky NewtonEconomic Development Managerbnewtoncityoflakewoodus253-983-7738 cityoflakewooduseconomic-development
Full report
Lakewood Pierce County Lakewood Pierce CountyKing CountyVacancy Rate 38 40 46 52 52 56Cap Rate 65 61 48 74 66 51
Studio $662 $943 $1330 $606 $830 $11341 Bedroom $819 $983 $1538 $700 $838 $12812 Bedroom $1011 $1180 $1834 $862 $1003 $15203+ Bedroom $1460 $1500 $2059 $1197 $1274 $1834
Multifamily
ASKING RENTS
Survey (1115-8117) King County
5-Year Average
Median sales price $288000Avg list price $324000Active listings 95
Gravelly Lake Dr amp 100th St 19345Pacific Hwy amp 108th St 23572S Tacoma Way amp Steilacoom Blvd 29398
JBLM 55000Madigan Army Hospital 5200Western State Hospital 2206Clover Park School District 1629Pierce College 1308 Camp Murray 980
St Clare HospitalFranciscan 907Aacres WA LLC 562McLane Northwest 436Greater Lakes Mental Health 358Walmart Supercenter 341
Population 58800Daytime population 92069Median age 36Avg family income (2015) $74705Graduation rate 90 percent
Largest Private Employers
Largest Public Employers
General Demographics
Avg Daily Traffic Volume
Residential Real Estate 2nd Qtr