The Real Estate Tycoons of Early Seattle
A look at the men and the infrastructure driving the 1889 expansion of the city's streetcar lines and the booming Renton Addition.
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.
It will not be out of place at this time to state that it is good business policy to advance with the work. Nearly two months ago we mentioned in our advertisements that the early building of an electric line out Filbert street to Lake Washington and Union Bay, and of a double-track cable line from the foot of Madison street to Laurel Shade, was timed. At the last meeting of the city council, applications were made for franchises for these two routes, partially corroborating our statement of two months ago. No one who is acquainted with the character of the men heading these enterprises (Cyrus Walker, Pope Talbot, John Collins, John Leary, E. C. Kilburne, and others of the Electric Company, and J. M. Thompson, L. S. J. Hunt, H. G. Struve, Maurice McMicken, A. B. Stewart, G. H. Heilbron, and others, of the cable company) will longer doubt that our entire prediction will be fulfilled. We are now selling lots in Renton Addition at the old scale of prices. About one-third of the lots have been disposed of, and prices will be advanced 10 per cent on all lots unsold by July 10. Both of the lines of transportation will pass through the addition.
“No one who is acquainted with the character of the men heading these enterprises... will longer doubt that our entire prediction will be fulfilled.”
This 1889 report perfectly captures the 'transit-oriented development' cycle that still defines Seattle. Developers betting on streetcar lines to drive up property values in the Renton Addition mirrors how modern light rail expansion continues to reshape neighborhood affordability and land value across the city today.
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