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Puget Sound Business Journal
Kiewit, Sound Transit still sorting out who will pay for I-90 flub
Eleven weeks since opening, the first segment of Sound Transit's 2 Line is carrying up to 6,000 passengers a day, a Sound Transit director told real estate developers on Thursday.<\p> "We're hitting our growth projections of between 4,000 and 6,000 passengers a day," community relations director Ariel Taylor told around 200 people in the courtyard of Amazon's new 600-foot-tall Sonic Tower in Bellevue.<\p>
Caring is a calling for the PSBJ's 2024 Health Care Heroes
Even as health care is increasingly moving to virtual spaces and remote delivery channels, front-line caregivers across the Seattle region are demonstrating how they can preserve deep personal connections with their patients.<\p> Though the burdens of the Covid-19 pandemic have eased, doctors, nurses, hospital staff and other specialists are still facing a sizable gap between the demand for services and hospital capacity that will only get wider over the coming years. <\p>
Human services provider signs Pierce County's largest lease of 2024
A human services provider is relocating to downtown Tacoma in Pierce County's largest office lease signing so far this year, according to Lee & Associates, which brokered the deal.<\p> Dungarvin Washington Supported Living, which serves people with developmental disabilities, will move into a 18,300-square-foot space at 1305 Tacoma Ave. S. in October.<\p>
Seattle entrepreneur joins SBA's Regulatory Fairness Board
Colleen Echohawk, chief executive officer of Eighth Generation, a Native-owned lifestyle brand, has been appointed to the U.S. Small Business Administration's Regulatory Fairness Board.<\p> “My goal is to bring both my enthusiasm and experience in fostering generational wealth-building and entrepreneurship to this position," Echohawk said in a Wednesday news release.<\p>
VC funding in Seattle drops to 2016 low
A rebound in the Seattle-area venture capital market remains elusive.<\p> VC activity in Seattle fell to the lowest count since 2016 in the second quarter of this year, according to the Venture Monitor report PitchBook and the National Venture Capital Association released Wednesday. <\p>
Bellevue consulting firm acquired by Atlanta tech company
Amplify Consulting Partners Inc. of Bellevue has been acquired by Sparq, an Atlanta-based tech company.<\p> The acquisition is the second this week for Sparq, which also acquired Kingsmen Engineering Firm in North Carolina. <\p>
The National Observer: Investors taking a big interest in strip malls
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today, we're looking at the closure of a century-old college, a sustained surge in new business formation, and where Kroger is looking to sell stores in order to win antitrust regulators’ approval for a $24.6 billion acquisition. But first, let's see how the accelerating spread of data centers is prompting resistance in some regions.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter. <\p>
Northgate Station mixed-use project breaks ground
Simon Property Group (NYSE: SPG) on Thursday will celebrate the groundbreaking of a mixed-use multifamily project at Seattle's Northgate Station, the company announced. <\p> The 234-unit building is the latest phase of development on the former Northgate Mall site, where Simon is planning about 1,000 apartment units, two hotels, shopping, offices and more than an acre of green space. <\p>
Longtime Seattle restaurant to expand in downtown tower
An Italian restaurant that has been a staple of Seattle's food scene is coming to the U.S. Bank Center downtown. <\p> The family behind Pioneer Square's Il Terrazzo Carmine is expanding to the office tower's Cedar Hall lobby and retail area with a 7,500-square-foot restaurant. It's set to open next summer. <\p>
CBRE hires sales exec for Seattle debt and finance division
CBRE Group Inc. (NYSE: CBRE) announced Tuesday that Vicki Huynh has joined its Debt and Structured Finance team in Seattle as a senior vice president. Josh Berde leads the team.<\p> Huynh has over 20 years of experience sourcing, underwriting and structuring mortgage transactions for multifamily and commercial real estate in the Pacific Northwest. <\p>
Boeing deliveries pick up as company grapples with fresh challenges
The Boeing Co. (NYSE: BA) ramped up deliveries of its 737 Max jets in June, even as it finalized the terms of a new plea agreement with federal prosecutors related to two fatal crashes of the jets five years ago.<\p> But customers have been slow to place new orders despite efforts by the jet maker to reassure them of its improved quality control measures. <\p>
Struggling MOD Pizza chain gains new owner
Bellevue fast-casual pizza chain MOD Pizza has sold to a restaurant group amid bankruptcy rumors.<\p> The company announced the sale Wednesday to California-based Elite Restaurant Group. Financial terms were not disclosed. <\p>
$1.55B transportation levy breaks decadeslong Burke-Gilman impasse
Seattle's $1.55 billion transportation levy — the largest tax in city history — will be on this fall's ballot.<\p> The City Council on Tuesday unanimously signed off on the plan, and Mayor Bruce Harrell signed the legislation to place the measure on the Nov. 5 ballot.<\p>
Costco to hike membership fees — here's how much
Members of Costco Wholesale Corp. (Nasdaq: COST) in the U.S. and Canada will soon see a change in their annual membership fee. <\p> After two years of discussion, the Issaquah company announced Wednesday that it would raise its membership fees this fall. It will be the first price increase in more than seven years. <\p>
Take an exclusive look inside the $1B Avenue Bellevue project (Photos)
After nine years and multiple delays, the InterContinental Bellevue at the Avenue is almost here. <\p> Next week, Fortress Development and IHG Hotels & Resorts will cut the ribbon on the ritzy 208-room hotel, which is part of the $1 billion-plus Avenue Bellevue project. <\p>
Alaska Airlines adds service from Seattle to 2 new winter destinations
Alaska Airlines is adding 18 winter routes across the country, including two out of Seattle-Tacoma International Airport. <\p> The SeaTac-based airline will begin seasonal nonstop flights to Liberia, Costa Rica, and Vail, Colorado, in December, adding to its lineup of winter getaway destinations. Tickets become available Wednesday night. <\p>
Microsoft, Apple drop OpenAI board observer seats
Microsoft Corp. (Nasdaq: MSFT) is giving up its observer seat on OpenAI's board, and Apple Inc. (Nasdaq: AAPL) is abandoning its own short-lived bid to take an observer seat, as well.<\p> The Financial Times reported late Tuesday that Microsoft had informed OpenAI that its decision to relinquish its board seat was "effective immediately" and that Apple would also no longer take a seat.<\p>
Investors team up to acquire Lake Union apartment property
Seattle-based real estate company Nitze-Stagen partnered with Long Wharf Capital of Boston to acquire a 65-unit apartment building in Seattle’s Westlake area that overlooks Lake Union.<\p> The five-story building at 1701 Dexter Ave. N., called Dexter Hayes, traded for $18.9 million, or $290,000 per unit. The deal was recorded by King County on Tuesday. <\p>
Matvey Foundation Repair acquired by national firm
Matvey Foundation Repair has been acquired by Groundworks, marking the Virginia-based firm’s first expansion into the Pacific Northwest.<\p> The acquisition, which was announced last week, is part of a larger expansion by Groundworks, which has acquired nine companies so far this year, including two companies in Canada. The company also has a presence in California, Colorado, New Jersey, Nebraska and Pennsylvania, according to its website.<\p>
Seattle makes it easier to turn commercial buildings into housing
The Seattle City Council on Tuesday unanimously approved an ordinance to make it easier to turn office and other commercial buildings into housing in certain zones citywide.<\p> It was a partial victory for commercial real estate developers, who say removing regulatory barriers is critical to creating conversion opportunities. Developers had sought passage of the ordinance as proposed by Mayor Bruce Harrell this spring and got mostly what they wanted.<\p>
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