9:00 Update: And so, the Great Fremont Power Outage Of 2011 is over. Fremont residents who lost power about this afternoon have now had power restored in full.

Seattle City Light says the cause was “an underground equipment failure.”

4:00 Update: The estimate for full restoration of service is now updated to 6 p.m.

3:15 Update: Repair crews almost have all the power restored. Down to about 800 homes, businesses still out.

2:40 Update: According to Seattle City Light, the outage started about 2 p.m. The general boundaries are NW 47th Street on the north, NW 34th Street on the south, Woodland Park Avenue on the east and 5th Ave NW on the west. The cause of the outage was not immediately known.

An initial estimate for restoration of service was set for 4 p.m.

2:35 Update: Seattle City Light crews are responding to a power outage Thursday afternoon that affected 3,500 homes and businesses in Fremont.

Original: It’s 2:30pm right now and the power seems to be out all over Fremont at the moment. Traffic lights at 46th & Fremont Ave and 46th & Phinney are currently out.

The outage also seems to be affecting traffic in Greenlake.

We’ll add more as we find out.