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Autonomous driving may be closer than we think and impacts are sure to be made in all economic aspects, real estate being no exception. With Seattle being one of the nation‘s top tech producers, driver–less cars are a promising end to mornings of waiting in I-5 traffic to commute into the city. Features such as Traffic Jam assist will use adaptive cruise control, lane assist, and outside sensors to aid in the fluidity of traffic to keep the roads moving smoothly. Besides the obvious result of quicker, more comfortable trips, the impact of this new technology will drive shifts in Seattle’s commercial real estate industry. It is expected that within 5 years, driver–less cars will be a prevalent mode of transport in and around Seattle. With these new road share services, monstrous parking lots will be a thing of the past. Square footage previously assigned to parking garages and large lots may be re-allocated to design and urban planning of the buildings which they had previously serviced as well as create opportunities for new construction. Further, there is likely to be a shift in the nature of retail leasing and development, as the need for gas stations and the cost to deliver goods directly to consumers decrease significantly. Additional construction opportunities created by the decease in demand for parking may soften the impact of Seattle’s housing crisis and encourage significant commercial growth, resulting in increased personal and business opportunities for Seattle residents.
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