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Changes Planned for the Overlake/Sears Property in Redmond
http://www.redmond.gov/seritage
Design and use changes are proposed for the existing Sears site in the Redmond/Overlake area. The rendering above and link to the City of Redmond website provides more information about the Seritage mixed use project. Preliminary plans for the 13 acre site propose office, retail, hotel, restaurants and residential plus approximately 2 acres of parks and open space.
Anyone interested in learning more about the proposed project can attend a public meeting on Thursday, March 8th at 6:00 PM at the Redmond Community Center at Marymoor Village (6505 176th Avenue NE, Redmond, WA).
Seattle vs. San Francisco – Affordability vs. Lifestyle
Both San Francisco and Seattle have an abundance of tech jobs. Anyone in the tech industry casting a wide net in their job search could expect to find job opportunities in both cities. While both locations would provide career growth opportunities and a stimulating lifestyle, where would you move and how would make that choice?
San Francisco is a fabulous city and salaries in the Bay area can easily be 20% higher, or more, than the Seattle marketplace, but many tech workers are choosing Seattle over the Bay area and Silicon Valley higher paying jobs. No question the cost of living here is on the rise, but the Seattle area has a significanty lower cost of living when it comes to renting or purchasing housing, parking, dining out, entertainment, groceries, etc. Locating where the employment base is, and where living is more affordable, could explain why Google expanded its campus in Kirkland and Facebook, Twitter, Uber and Dropbox have located offices here.
Friends who recently left San Francisco and moved back to the Eastside were renting a small studio in downtown San Francisco for $3,000/month + $300/month for parking. While the opportunity to return to the Eastside was key in their relocation decision, the difference in living expenses was also attractive. Renting a luxury one bedroom condo on the Eastside at $2,000/month, parking included, definitely made up for any difference in salary. While home prices and rents have increased in Seattle and on the Eastside, our prices still pale in comparison to San Francisco.
A higher paying job is enticing, and San Francisco is definitely a desirable place to live, but when adding up the list of basic items that can be as much as 30 percent cheaper here than in San Francisco, maybe the city on the bay is better as a great place to spend a weekend.
Walkable Neighborhoods Increase Property Values
Walkable neighborhoods continue to grow in popularity with buyers placing high value on access to workplaces, entertainment, shopping and dining without having to rely on a car. A home's walkability is not only increasingly in demand, its also a factor in raising home values. Recent data shows that mixed-use transit oriented neighborhoods improve property values and over the years walkable communities have held and increased their value, even in turbulent real estate markets. Respondents in a recent NAR (National Association of Realtors®) survey confirmed that buyers prefer to live in a neighborhood with a mix of homes and businesses. Communities where people can live close to work, buy groceries and socialize – all without needing a car – are the magnets that attract many of today's professionals, families and downsizing buyers.
