Local Real Estate News May 8, 2021

How Architects are Designing Offices in the Pandemic

COVID-19 has changed just about every facet of life — and that includes the very architecture that surrounds us. As remote work and virtual gatherings have become the norm, architects and designers are reevaluating the ways in which they design communal spaces.

In particular, offices have proven challenging as architecture firms address questions like which employees will have a desk in the office, and what will the capacity of the office be?

For some firms, the answer is not in reducing the number of desks in the office, but in making sure every employee has their own space to work from. Hot desking (the practice of having employees share workspaces with others and not assigning specific desks to employees) is unlikely to regain favor anytime soon, as workers are hyper-aware of contagions and the potential risk factors of sharing a space with others.

To minimize contact, offices and reception desks are now being designed with food delivery hubs. With the spike in food delivery services during the pandemic, creating designated spaces for drop-offs minimizes both the potential risks and the hassle of meeting a delivery driver.

Additionally, new offices are being designed with more flexible workspaces for employees to take advantage of, including phone booths, huddle and conference rooms and outdoor terraces with Wifi access.

The appeal of more outdoor space has also spilled over into the design of new apartment buildings, as units are being designed with more outdoor spaces for residents. Additionally, some design firms are working to design larger units for the benefit of residents, although this approach does cut into profits.

One thing both office and residential design have in common is their new source of inspiration — healthcare facilities. In the past, many design firms had turned to the hospitality industry for their inspiration, focusing on comfort and aesthetics. These days, it’s the opposite, as commercial and residential architects prioritize health and sanitation.

For many, this means increased investment in HVAC and air filtration devices. Though not the most exciting development, these fixtures are effective and increase peace of mind for those in the building. Additionally, antibacterial surfaces and easy-to-sanitize materials, like tile and porcelain have also seen an increase in popularity.

No matter how long the pandemic lasts, its impacts will be felt for some time. Among the long-term changes, the design of our homes and offices will also be impacted for the foreseeable future.

 


This article was originally posted on Bisnow by Jon Banister and GettheWReport

Local Real Estate News April 30, 2021

Google Continues to Invest in Kirkland

With the recent news that Seattle is the national leader in big tech office leases, it’s no wonder that Kirkland continues to be a prime spot for investment from Google.

Google recently announced that it plans to invest more than $7 billion in offices and data centers around the U.S., including the continuing construction of campuses in Kirkland and Seattle. The end result of these investments will be more than 10,000 new full-time Google jobs across the country.

Google has had a presence in Western Washington since 2011, and currently has about 6,300 employees in the region. The plan is for the tech company to continue the construction of two new campuses in Kirkland, in addition to its current 375,000-square-foot campus.

With the first new project in Kirkland, appropriately called the Kirkland Urban East campus, Google will add 760,000 square feet of office space, spread across four new buildings. This project is well underway, with the North building already completed and construction started on the South and Central buildings.

The company’s new project in the city is on the site of the former Lee Johnson Chevrolet dealership. Google finalized the purchase and sale agreement in November 2020, and the project is still in the early stages. The deal will likely close in stages over the next several years as Google finalizes its plans for the site.

Seattle is also benefitting from ongoing investment from Google. The company continues to work on Block 38, which is a 330,000-square-foot building located on the corner of Westlake Avenue and Mercer Street. This project is an extension of Google’s South Lake Union campus, which will span a total of five buildings and encompass 900,000 square feet of office space.

Among the news of Google’s upcoming projects, the company also released its 2020 Economic Impact Report. The report indicated that Google provided $17.3 billion in economic activity for 52,800 Washington businesses. Additionally, more than 398,000 Washington businesses connected with customers through Google searches last year.

 


This article was originally posted on 425Business by John Stearns and on GettheWReport.com

Local Real Estate News September 14, 2020

Kirkland Grows in Population, Housing, and Business

 

Across Lake Washington from Seattle, quiet Kirkland is in for a bustling future. Prior to the pandemic, the city was experiencing growth as it worked to accommodate 8,361 new housing units and 22,435 new jobs by 2035, averaging out to about 363 housing units and 975 jobs per year. Even with the pandemic in mind, Kirkland is preparing for a growth spurt.

The cause of this exponential growth? Everything from continued investment from businesses like Google, new construction projects and the annexation of land from nearby Finn Hill, Juanita and Kingsgate. The result is a population increase of 82 percent between 2011 and 2019, and a sizeable increase in land area thanks to the newly incorporated areas.

To accommodate a growing population and increasing job opportunities in the area, Kirkland is also developing a Bus Rapid Transit (BRT) system that will include a new station in the city which will serve the greater I-405 corridor. The station will also allow for transit-related development and new construction within a half-mile radius of the station. Currently, the area includes multi-family residences, schools, parks and commercial/retail and office spaces.

One of the other notable new projects includes the completion of the Village at Totem Lake. The 26-acre urban lifestyle village has been under construction since 2016, but the development plans to wrap up by the end of this year. The Village includes commercial tenants such as Cinemark, Whole Foods and Nordstrom Rack, while the nearby Aura Totem Lake apartments have 202 housing units available, with two more complexes to be completed by spring 2021.

Another developing property, Kirkland Urban, is a mixed-use project on 11.5 acres in downtown Kirkland. The project caught the attention of Google, who purchased most of the property for $435.7 million in 2019, and has now added 1.1 million square feet of office space in the city. Google already had offices in the area, and during the pandemic many of its employees will continue to work from home. Additional businesses in the area will include restaurants, bars, shopping and more housing at the recently-opened Uptown Apartments.

Thanks to its rapid growth, Kirkland is now more committed than ever to the “Innovation Triangle” it forms with Bellevue and Redmond. Together, the three cities have formed an attractive hub for tech businesses and workers alike, as they foster improved commutes, residential areas, job opportunities and positive growth.

Please feel free to reachout with any questions you have!

Karen Prins

karen@karenprinsrealestate.com

 


This article was originally posted on 425 Business by John Stearns and on GettheWReport.com

Buying a HomeLocal Market UpdateLocal Real Estate NewsSelling a Home August 11, 2020

Local Market Update – August 2020

While the pace of daily life may seem slow right now, the
local real estate market has had an unusually busy summer. The number of
new listings in July was up, sales increased, and home prices followed
suit.

• While overall inventory is at historic lows, more sellers put their homes on
the market. New listings of single-family homes in King County jumped more than
25% from a year ago. Snohomish County saw a 7% increase in new listings.

• Pent-up buyer demand fueled sales activity in July. The number of pending
sales was up 17% over a year ago in King County, and up 13% in Snohomish
County.

• With buyers snapping up new listings as soon as they hit the market, total
available inventory dropped to a 10-year low for the month.

• The lack of inventory is benefiting sellers, and multiple offers are now common
at every price point. As a result, single-family home prices rose 7% in King
County and 15% in Snohomish County.

The charts below provide a brief overview of market activity. If you are interested in more information, every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com

Local Market UpdateLocal Real Estate News July 14, 2020

Local Market Update – July 2020

While our lives are very different than they were a year ago, the local real estate market has recovered to 2019 levels. Record low interest rates are helping spur demand. Sales were up, home prices increased and multiple offers were common.

  • The number of pending sales, a measure of current demand, was higher in June than for the same period a year ago.
  • The supply of homes on the market remains very low, with just a month of available inventory. When inventory is this low, quick sales over full price are common. That was the case in June when about 40% of homes sold for more than the asking price.
  • Home prices in King County rose 4% over a year ago. Snohomish County home prices increased 5%.
  • More sellers put their homes on the market. While total inventory remains low, the number of new listings in June was similar to the same time last year.

The monthly statistics below are based on closed sales. Since closing generally takes 30 days, the statistics for June are mostly reflective of sales in May. If you are interested in more information, every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com

Local Market UpdateLocal Real Estate News June 11, 2020

Local Market Update – June 2020

 

As we move to the next phase of reopening, life feels like it’s slowly inching back towards normal. The same is true in real estate. Statistics on home sales in May provided the first true picture of the effects of COVID-19. Those reports confirmed the incredible strength and stability of the local real estate market.

  • The Stay Home order, as expected, continued to impact the number of sales. However, the market is starting to move its way towards more normal activity. Pending sales, a measure of current demand, have risen every week since April.
  • The slight drop in median closed sale price is a result of a proportionately larger number of lower priced homes selling than is normal. It should not be interpreted as a decrease in individual home value.
  • There were significantly fewer homes for sale in May than the same time last year. With less than a month of available inventory, competition among buyers was intense. Bidding wars and all-cash offers were common.

The monthly statistics below are based on closed sales. Since closing generally takes 30 days, the statistics for May are mostly reflective of sales in April. If you are interested in more information, every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here. As we adapt to new phases of reopening, know that the safety of everyone remains our top priority.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com

Buying a HomeLocal Real Estate News February 27, 2020

Local Builder Brings New Townhome Communities to Bellevue & Kirkland

Bellevue-based builder Quadrant Homes has introduced two new communities in Kirkland’s Totem Lake neighborhood and Bellevue’s Spring District. Featuring rooftop entertainment spaces, plenty of windows for natural light, and the latest home tech (including electric vehicle charging and whole-home voice control), these exciting new communities are sure to satisfy buyers.

 

Minutes from The Village at Totem Lake, the Lake Washington School District, and Google and Tableau campuses, the Vareze community promises convenient access to work and play plus open floor plans, in-home tech offerings and community spaces. Select floor plans are now available with more options coming soon.

 

 

 

Debuting in March 2020, the Lario community will be part of Bellevue’s Spring District, surrounded by beautiful parks, shopping and plenty of restaurants. Ranging from 2 to 4 bedrooms, each residence is complete with a 2-car garage and the community boasts its own park and rooftop entertainment spaces.

 

These townhomes offer buyers proximity to plentiful amenities and transit opportunities — from highways to walking trails and the future light rail stations. In booming Eastside neighborhoods where inventory is already low, these communities are sure to be welcome additions!

 

Reachout it you want to view these beautiful homes! karen@karenprinsrealestate.com 

 


A version of this article was first published on 425 Business and GettheWReport.com