Medina
REAL ESTATE
Bellevue ramps up affordable housing plan
City officials more than doubled Bellevue’s 10-year goal for preserving or developing affordable housing to 5,700 units in the next decade. Bellevue Mayor Lynne Robinson and Deputy Mayor Mo Malakoutian discussed the city’s affordable housing goals during the State of the City address last month. Robinson discussed city...
6 Best Cities To Buy Property in the Next 5 Years, According to Real Estate Agents
Over the course of the next five years, some real estate markets are going to go bust and some are about to boom. If you are thinking about investing in property — whether residential or commercial — you might want to get in on a few cities that are expected to be great investments through 2029.
Owner of Former Lusty Lady Building Purchases 27-Unit Marketside Flats in Seattle for $10.2MM
Another multifamily community in Seattle has traded hands recently. Marketside Flats, a 27-unit apartment building, was purchased for $10.2 million, or approximately $377,777 per unit, according to King County public records. A report from the Puget Sound Business Journal shows that the buyer was entrepreneur Andrew Conru, who also owns the former Lusty Lady building on Post Alley, which sits nearby. The seller was an entity affiliated with Mack Real Estate Group.
Patrinely and Dune Real Estate’s 485,000 SQFT Four106 Tops Out In Downtown Bellevue
Patrinely and Dune Real Estate’s Speculative Office Tower Set for Completion in Q2 2025. Bellevue, July 11, 2024 — Patrinely, in partnership with affiliates of Dune Real Estate Partners, announces that construction has officially topped out on Four106, the 485,000-square-foot office tower in Downtown Bellevue. “We are excited...
Ai2 Signs Lease as First Office Tenant at New Lake Union Campus
Allen Institute for AI, or Ai2, a Seattle-based non-profit AI research institute founded by philanthropist and Microsoft co-founder Paul Allen, is the first office tenant for the new Northlake Commons project. Real estate development group Hess Callahan Grey Group (HCG Group) and San Francisco-based Spear Street Capital, in partnership with...
Seattle Social Housing Developer Selects Roberto Jimenez as First CEO
Seattle, WA – July 18, 2024 – The Seattle Social Housing Developer (SSHD) is pleased to announce the appointment of Roberto Jimenez as its inaugural Chief Executive Officer. With an impressive background in affordable housing and community development, Jimenez brings a wealth of experience and visionary leadership to SSHD at a pivotal time in the organization’s growth.
$40MM Permanent Loan Secured to Refinance 235-Unit The Mercer Apartments on Seattle’s Mercer Island
The Mercer Apartments on Seattle’s Mercer Island Offers 235-Class A Apartments over 20,000 Square Feet of Street Front Retail Space in Two Buildings; Low Leverage Life Company Loan Positions Asset for Legacy Hold with Attractive Terms and Rate. Seattle, Wash. (July 18, 2024) – Gantry, the largest independent commercial...
Shoreline to help struggling apartment developer; again
With 3,010 units coming soon, Shoreline has more new apartments under construction than any other King County suburb. Yet, amid a housing affordability crisis, more than nine vacant lots and blocks of derelict homes blight Shoreline neighborhoods as high interest rates cause some developers to struggle to get the construction loans needed to start building.
Seattle's accessory dwelling unit boom continues, outnumbering single-family permits 2 to 1
Seattle has entered a new era of housing, with skyrocketing permits for backyard cottages and in-home apartments, primarily in the city's single-family zoned neighborhoods.
Seattle Industrial CRE Market Sees Uptick in Q2 2024: Key Trends and Insights
As 2024 progresses, Seattle’s industrial commercial real estate market has seen a resurgence in activity, following a sluggish start to the year. The second quarter brought a wave of notable developments and trends that signal a cautiously optimistic outlook for the region, according to a recent Q2 2024 industry market report by brokerage firm Kidder Mathews.
“The Southard:” Homeownership that is inclusive and sustainable
Patti Southard, a nationally-acclaimed pioneer in her field, was a Green Building Program Manager for King County Solid Waste Division, within the Department of Natural Resources and Parks, for 14 years, until she passed away in 2019. Homestead Community Land Trust held a ribbon-cutting event on Friday, June 28, 2024...
American Capital Group, Clarion Form JV for Lynnwood MF Project
American Capital Group and Clarion Partners have created a joint venture to develop Enso, a 316-unit multifamily project in Lynnwood, Washington. Pacific Life Insurance Company served as the construction lender for the development, with construction scheduled to commence in August 2024 and anticipated to reach completion by Summer 2026. “Enso could not come at a more critical time as home ownership has become too costly for many, and capital market dynamics have slowed new multifamily housing starts,” said BJ Kuula, CEO of ACG.
Developers break ground on mixed-use project at former Northgate Mall site
Simon Property Group recently broke ground on a 234-unit, mixed-use development at Northgate Station. It’s located at the former Northgate Mall site. First deliveries for the luxury apartments are expected in 2026. GGLO is serving as the architect for the project, while Compass Construction is serving as the general contractor.
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