Welcome to Greenlake
Located in north central Seattle, Greenlake is a hip urban village minutes from Downtown. The centerpiece of this residential neighborhood is a 259-acre body of freshwater that's surrounded by a public park. On any given day Greenlake Park will be filled with sunbathers, swimmers, cyclists, and more. In addition to being within walking distance from one of the top recreation areas in the city, Greenlake residents have easy access to plenty of city amenities and a convenient public transportation system. This has made the neighborhood increasingly popular with upper-class couples, families, and young professionals.
GREENLAKE LOCATION AND HISTORY
Greenlake, Seattle area from aboveThe neighborhood of Greenlake spans roughly 2.5 square miles, covering an area that surrounds the north, west, and south ends of the lake. The general boundaries are considered to be 85th Street to the north, Woodland Park to the south, State Route 99 to the west, and Interstate 5 to the east. Convenient access to I-5 makes Greenlake especially attractive to professionals who commute daily to Seattle with downtown just 6 miles away.
Greenlake was a relatively sparsely populated area when it was annexed into Seattle in 1891. However, early city planners had the foresight to see that the lake would one day make a popular attraction. In 1911, Greenlake's inflow and outflow routes were cut off which lowered the water level and made way for more park space. Over the next several decades the surrounding residential areas grew as the nearby University of Washington gained popularity.
The real population boom for Greenlake did not begin until the mid-1990s. During this time, the neighborhood underwent a significant redevelopment, and many homes were expanded or completely remodeled. This has given the Greenlake real estate market its unique character. As of 2016, about 17,500 people live in the neighborhood. While new developments continue to bring in more residents, Greenlake is not as densely populated as Downtown Seattle.
GREENLAKE LIFESTYLE AND ATTRACTIONS
Greenlake Waterfront Beach with SailboatsAs a wonderful natural environment in an urban area, Green Lake Park attracts thousands of visitors every day. Originally formed by a glacial ice sheet centuries ago, the area n w serves as a natural preserve for hundreds of plant species as well as waterfowls, toads, turtles, and other animals. Of course, this public park has plenty of facilities for humans as well. The lake is immediately surrounded by a 2.8-mile path used by runners, skaters, and bikers. There are also numerous athletic fields, swimming beaches, and access points for boaters.
Along with the public park, Greenlake is home to many historical attractions. An old bathhouse located right on the lake was converted into the Seattle Public Theater in 1988. The Bathhouse Theater holds numerous productions and other events throughout the year. The neighborhood is also home to the Green Lake Library, an officially designated Seattle landmark opened in 1910.
Greenlake residential streets are scattered with an array of unique restaurants, boutique shops, and small businesses. While this urban village is near the university and home to many young professionals, loud nightlife is kept to a minimum. In general, Greenlake residents tend to be friendly and more interested in strolling through the park or to the library. The average age of neighborhood residents is 37, which is about the same as the city's average. Statistically, residents here earn a higher income and are more educated than the average Seattleite.
THE GREENLAKE REAL ESTATE MARKET
Since the neighborhood went through extensive redevelopment in the 1990s, Greenlake's real estate market has continued to strengthen. During 2016, Greenlake home values went up by almost 10 percent. Analysts expect values to continue to increase in the coming years. This is good news for buyers looking to make long-term property investments.
The median price of a typical Greenlake home is about $650,000. It is worth noting, however, that houses tend to be larger in Greenlake than in other nearby areas. Since many Greenlake luxury homes measure in at over 5,000 square feet, fast-acting buyers may be able to get more bang for their buck.
WHERE TO FIND GREENLAKE LUXURY HOMES
Affluent homebuyers looking to live in a walkable residential neighborhood near Downtown Seattle will love Greenlake. This diverse urban village features lots of unique older homes that were built between 1940 and 1969. Since Greenlake is all within the park grounds, there are no direct waterfront properties in the neighborhood. However, there are many beautiful homes with amazing waterfront views just off the southwest end of the lake. The northern part of Greenlake, where both Daniel Bagley Elementary School and Bishop Blanchet High School are located, is a popular area for families.
VDB | Compass listing portfolio of Greenlake luxury homes enables you to browse through our collection of unique properties within the city. Not only will we present you with a property that suits your lifestyle, but we will also guide you through the intricate processes of contractual obligations and financial transactions. At VDB | Compass we pride ourselves on exceeding client expectations by setting the standard of premium service coupled with exceptional client care throughout the entire home-buying process.
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