The Feeding Frenzy of 1889
Before the city’s meteoric rise, land developers in Seattle were already peddling the 'next big thing' across the water, promising smelters and shipyards to anyone with cash in hand.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
Located directly opposite the business portion of Seattle, where Commercial Street will penetrate, the Sanders’ Addition is being touted as the premier investment opportunity. Adjoining the Manning, Southern Pacific, and South Haven additions, this development boasts a quarter-mile of waterfront property platted into lots for early buyers. With prices ranging from $75 to $400, developers are offering terms of one-half cash, with the remainder due in six and twelve months. Promoters dangle the promise of a 'gigantic smelter plant'—backed by wealthy local, Chicago, and San Francisco capitalists—alongside the existing Hall Shipyard and planned electric motor lines. For those looking to secure a foothold in the rapidly expanding territory, free steamboat transportation is provided to and from the property for prospective buyers.
“This property will be sold cheaper, considering location, than anything now offering on the market. Don't miss the opportunity.”
The language of 1889 real estate brochures—promising massive infrastructure projects and 'ground floor' opportunities—is a mirror to the speculative frenzy that defines Seattle's modern housing market. Just as the Sanders' Addition peddled the dream of West Seattle connectivity before the reality existed, modern developers continue to leverage 'future growth' to drive today’s affordability crisis.
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