Russell Investments, Brooks Sports, and Weyerhaeuser have each recently made the decision to relocate corporate headquarters to downtown Seattle, in order to attract top talent. Jones Land LaSalle Inc recently named the Seattle-Bellevue market as number 2 in the country for high-tech growth, behind only the San Francisco area. Seattle is quickly forming a nucleus downtown as an "innovation district," attracting jobs, employment, and economic growth.The Brookings Institute defines "innovation districts" as 'geographic areas where leading-edge anchor institutions and companies cluster and connect with start-ups, business incubators and accelerators. They are also physically compact, transit-accessible, and technically-wired and offer mixed-use housing, office, and retail."
According to Trulia, Seattle is also one of the 10 Hottest Markets for Millennials:
“Seattle’s got a lot more than just great coffee. It’s a major hub for technology, green industries, art, and culture that many millennials are looking for. It’s also a great place for nature and fitness buffs, with lots of parks, forests and year-round outdoor fun.”
Talent follows economic growth and opportunity, which bodes well for the residential and commercial real estate markets in Seattle. It makes sense for a developer like me to look at market rate residential housing located at a transit stop in the City of Seattle, as Van Gogh Studio Lofts has proposed in Rainier Beach. I may not have a crystal ball, but I certainly like what I am hearing about Seattle as a top market in with to invest your real estate dollars!
Happy Investing!
Photo courtesy of Shivani Patel
No comments:
Post a Comment