Building Permits | Redmond Economic Development Inc.
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While building activity in Redmond has not approached the high-water mark of 2005, it rebounded slightly in 2010, mostly on the strength of improvements to existing properties.  Recent years have shown continued growth largely in residential due to increased housing demand.

According to Compass Commercial, industrial occupancy rates (net absorption) have been trending upward for the past several years.  Redmond's industrial vacancy rate hovered between 25% and 30% for buildings over 3,000 SF, for most of the recession.  However, recent demand has decreased this rate to below 10%.  Several buildings are scheduled to be completed with build out for flex space in 2017, increasing the available inventory which includes; heavy industrial parks and high-tech business campuses, small flex-space commercial/light industrial complexes and stand-alone manufacturing buildings.

BUILDING ACTIVITY IN REDMOND
Year Residential New Commercial Tenant Improvements Total Valuation ($)
2005 818 53 83 $170,550,153
2006 510 44 69 $111,137,269
2007 252 53 78 $95,626,345
2008 141 34 54 $63,000,687
2009 63 34 54 $24,661,610
2010 52 18 75 $72,399,863
2011 32 14 56 $14,471,470
2012 90 13 56 $25,873,791
2013 100 8 70 $33,444,344
2014 148 7 91 $49,916,914
2015 195 15 117 $61,612,148
2016 284 25 124 $103,164,271