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REAL ESTATE
Habitat for Humanity breaks ground on largest affordable housing project in Burien
Ground was broken at the Miller Creek Community housing project on Tuesday, Aug. 13, 2024, to celebrate the construction of a new affordable housing community that will offer 40 low-income families the stability and long-term equity that homeownership provides. The project features 3 and 4-bedroom, 1.5-bath homes that are approximately...
Planned 46-Story MF Project in Seattle Paused Citing Crime
Work on a planned Seattle residential tower near Pike Place Market has been paused amid the developer’s concerns about crime in the area. According to Kevin Corbett, CEO of Plus Investment (USA), construction on the 46-story project at 1516 Second Avenue will not move forward, reported the Puget Sound Business Journal.
Seattle home prices surge to 2nd-highest in U.S., report finds
SEATTLE - The greater Seattle area has ranked as the second-highest median home sale price in the U.S. at $755,000, which is an increase of 8.6% from last year. The only market with a higher median sale price was San Francisco at a staggering $1,199,950. The real-estate giant RE/MAX released...
Fewer apartments being built locally
Multifamily construction contracts in metro Seattle have fallen below the 10-year average for the first time in three years. The number of market-rate units that are currently being built has dipped under 20,000, as compared to a six-year peak of nearly 29,000 units in 2023. As under-construction projects are completed,...
Seattle starts process of renewing valuable Multi-Family Tax Exemption Program
As it faces an ongoing affordability crisis, Seattle must extend a valuable tax break designed to encourage development of multifamily housing. Wednesday, the Seattle City Council’s Housing and Human Services Committee is scheduled to discuss legislation that would extend the Multi-Family Tax Exemption Program, “a tax exemption on the residential improvement portion of a development in return for the property owner agreeing to income and rent restrictions on a percentage of units.”
Bellevue Real Estate Expert Jason Foss on Office Vacancies, Condo Market Trends, & Future Developments
With so much happening in the Bellevue condo and housing market, we caught up with real estate expert, Jason Foss of Real Residential, to learn more. Specializing in the acquisition, management, and representation of distinctive urban properties, Foss has over 17 years of experience. Foss discusses the current state of...
BioMed Realty Secures 14K-SF Lease in Seattle with Curi Bio
BioMed Realty, a Blackstone portfolio company and provider of real estate solutions to the life science and technology industries, completed a 13,942-square-foot lease with Curi Bio, a company focused on human stem cell-based platforms for drug discovery, at 201 Elliott Avenue West in Seattle, Washington. The new seven-year lease will...
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