Amidst regulation updates in California that could hurt their businesses, popular ridesharing apps Uber and Lyft are now feeling the pressure from Seattle, as Mayor Jenny Durkan announced that the city plans to implement minimum wage requirements and impose new taxes on the apps.
Read MoreTwo former Amazon employees, Shariq Siddiqui and Umer Sadiq, recently teamed up with former Google computer vision scientist Faisal Shifayat to introduce Veeve, a new tech-driven grocery cart technology system that could change the face of brick-and-mortar grocery stores. As GeekWire outlines, the entrepreneurs saw the power of the technology Amazon implemented in its “Go” stores and wanted to find a way to implement the technology in larger format stores.
Read MoreLast month, Seattle Mayor Jenny Durkan drafted a proposal known as the ‘Mercer Mega Block’. The plan presents a breakdown on how funds will be allocated from the sale of nearly three acres in South Lake Union. Alexandria Real Estate won the bid for the location, paying $143.5 million. A portion of those funds will be designated to address the homeless problem in Seattle, as well as affordable housing.
Read MoreThe residential real estate market for the greater Seattle-Bellevue metro area has been relatively healthy and steady in 2019 after the May 2018 price correction. The sale prices of condominiums and single family homes increased 11.9% from January 2019 to May 2019. Currently, I estimate home values will decrease approximately 6% from June through December to approximately 350-355 $/sqft until January when values likely increase again, which is a net annual value increase of 5.9%.
Read More
Mayor Jenny Durkan announced a major update in the sale of nearly three acres in South Lake Union, dubbed the “Mercer Mega Block,” as it was revealed that Alexandria Real Estate won the bid, committing to a total of $143.5 million for the land and money allocated to provide services to the homeless. According to the Puget Sound Business Journal, Durkan’s proposal “would buy real estate to preserve and build affordable housing, work with employers to foster homeownership and provide financing of backyard cottages, or accessory dwelling units (ADUs).”
Read More
In June 2019, the Seattle-Bellevue real estate market has entered the seasonal “Summer Slowdown,” also known as a “Summer Slump” caused by decreased Buyer activity, however we’re still in a Seller’s market. Essentially, home values have recovered their losses from the May 2018 price correction and values seem to be going sideways.
Read More
There is a nationwide phenomenon of home price gains slowing nationwide. “Home price gains continued in a trend of broad-based moderation,” says Philip Murphy, Managing Director and Global Head of Index Governance at S&P Dow Jones Indices. “Year-over-year price gains remain positive in most cities, though at diminishing rates of change. Seattle is a notable exception, where the YOY change has decreased from 13.1% in April 2018 to 0.0% in April 2019.
Read More
Summer is the official time for waterfront living in the Puget Sound and Realogics Sotheby’s International Realty has put together an in-depth look of waterfront trends in 14 counties around Western Washington. RSIRWaterfront.com charts 15 months’ worth of data and includes average and median sales price trends, topographic maps of 27 areas and monthly sales activity.
Read More
Years after the official relocation announcement, Expedia’s move to Seattle is drawing ever closer, with some employees expected to start work in Interbay this fall. That figure will balloon to 4,500 employees by February 2020, when all Expedia workers are fully relocated. A large concern for Seattleites and commuters is the traffic impact, but as Seattle Times reports, the new office “will be an oasis for employees who want to avoid driving to work, offering private shuttles, plentiful bike amenities and cash for every day they don’t drive.” There is a parking structure for those that are committed to automobile use, which will accommodate 2,300 vehicles with room for expansion.
Read More
The biotech presence in South Lake Union is set to grow, as Puget Sound Business Journal reports that Alexandria Real Estate Equities plans to construct an office and research building—with a $76.5 million price tag—at 1150 Eastlake Avenue East. The project will comprise 12 stories and 303,000 square feet and is one of four projects Alexandria is planning in the region.
Read More