“Just as predicted, it’s now happening. Not a big surprise. With expensive land cost and higher permit and preconstruction costs, increase material cost and higher interest rates, this was the perfect formula for a slowdown for multifamily.” U.S. multifamily construction starts dropped sharply in May as the industry copes with economic and tariff uncertainty, as well as elevated interest rates.…
“This is a wonderful “sweet & short” summary of how to be great in the most basic, but KEY elements of Property Management business…” As a rental property owner, your first instinct is to use a hands-on approach. You want to manage all your assets with your very own teams. But as your portfolio grows, that ambition may become a…
“The City of Seattle hard at work again. This type of business practice seems familiar….. shouldn’t they also ban the tech used by airlines and hotels and rental car companies as well…?” Seattle apartment complex. (GeekWire File Photo / Nat Levy) The Seattle City Council today unanimously approved a bill banning the use of software that critics allege allows for…
“Fantastic news for Moses Lake – more big tech moves into town. Moses Lake is proving to be a great location for tech with strong power requirements, and good live/work environment and affordability for employees….” Gene Berdichevsky, co-founder and CEO of Sila, says in the battery market “you either keep up with it or get left behind.” Sila Nanotechnologies Central…
“Once again, another sign that a number of companies are downsizing their office space as work from home and shared space becomes more “permanent”……” Pemco Mutual Insurance Co. on Thursday said it has listed its South Lake Union headquarters building for sale. In a news release, Pemco said it also put on the market three adjacent properties east of the…
“As the pandemic recedes and the moratoriums end, people may be surprised (shocked) at the “rent increases” that many areas around Seattle have experienced in the past couple of months. Several main issues exists here – one, that in many areas (especially in Seattle) rents were Decreased in many neighborhoods due to the pandemic shutdowns and violence and renter exodus…
“American Property Development announces their new apartment development “Kinect” in Burien, adding another 230 brand new units to this growing community. These new units are part of the total 874 units planned to be built in Burien through 2022. This project also adds an additional 8,600 sf of new retail to the area and will property qualify for Burien’s tax…
“Another serious investment in Bellevue, WA. Hines jumps in to buy into the 425 unit Main Street Flats on Main Street, a month after announcing its 1.6 million SF mixed-use project Main Street Place a block away. The Eastside office market is expanding exponentially led by Amazon, and alongside Facebook, Google and Microsoft expansion plans over the next few years.…
“Amazon once again makes a big commitment to Bellevue, WA. Their profile continues to shrink in Seattle, and grow in Bellevue. Good news for all the new apartment and condo units going up and planned for Bellevue…‼” The Artise is the 13th Bellevue office tower Amazon will occupy. The company on Tuesday said it has leased the 25-story building that’s…
“The impact of the pandemic continues to haunt Seattle. Huge effects on downtown businesses, both large and small. Demand for apartments has fallen dramatically, as rent rates have fallen as well. Work from home, no commute, closed restaurants/bars, higher crime, all make for less desirable living environment for high-end downtown renters…” It’s going to take some time for the economy…