SEATTLE — A city program aimed at filling more of Seattle’s empty storefronts is looking for dozens of new businesses to move into those spaces.
Seattle Restored gives local businesses six months of free rent to help them get up and running. Of the businesses the program has worked with so far, more than 30 have gone on to sign long-term leases.
“I think it’s the best thing that’s happened to Seattle. I really do,” said Erika Vazquez-Jun, the owner of Frida in Pioneer Square.
Vazquez-Jun ran her boutique through pop-ups around Seattle for years, but she wanted to take the next step with a brick-and-mortar store.
Seattle Restored lets local businesses operate a six-month pop-up in available spaces, mainly in Belltown, downtown, Pioneer Square and the Chinatown-International District. The program covers rent, utilities and insurance.
After another one of her businesses succeeded through the program, Vazquez-Jun decided to apply for a long-term lease for Frida.
“You have coaches, you have financial advisors, you have tax help, so all of these daunting things that you really don’t like to think about as a business owner, they kind of push you to face and really help you,” she said.
Seattle’s retail vacancy rate currently sits at 3.9%, a slight increase from last year, according to research from commercial real estate firm Kidder Matthews.
Since Seattle Restored launched during the pandemic, it has hosted 100 retail pop-ups, and 33 of them have transitioned into long-term leases.
Brooke Sanders, program manager for Seattle Restored at the city’s Office of Economic Development, says the program also helps landlords fill their other available space.
“When they are showing the other space, you’re seeing an activation on the street,” Sanders said. “You’re seeing customers and people wanting to do foot traffic in that area, which makes it easier for them to try to fill their locations as well.”