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Another Great Reason to Call Bellevue Home
The City of Bellevue was one of 10 cities nationwide honored with this year’s All-American City Award. This year’s theme focused on building equitable and resilient communities. The award celebration was held virtually in June.
“We are honored to receive this award on behalf of a city that addresses community needs together with resilience and equity, even in the midst of new and unprecedented challenges.”
Mayor Lynne Robinson
Joining Bellevue as a 2021 All-American City award recipient were Carlisle, PA, El Paso, TX, Evanston, IL, Fort Wayne, IN, Kansas City, MO, Livermore, CA, Miramar, FL, Morrisville, NC and Wheat Ridge, CO.
First presented in 1949, the award recognizes communities that leverage civic engagement, collaboration, inclusiveness and innovation to successfully address local issues and create stronger connections among residents, businesses, nonprofit and government leaders.
Read the full story here:
https://nwreporter.nwmls.com/Issues/July-2021/page/Bellevue-AllAmerica-City
LOCAL SUMMER DAY TRIPS
Bainbridge Island/Robin Myers
I haven’t been to Bainbridge Island in years. I recently spent the day in Winslow with a friend who is an artist to see her work on display in a local gallery. After coffee at the waterfront park overlooking Eagle Harbor we explored the Bainbridge Arts & Crafts gallery, viewing her work along with the work of other artists and learned about the history of BA&C and future exhibitions. After cruising the options downtown we settled on an outdoor table at a local winery for lunch.
There’s something about a ferry ride that is so relaxing, making you feel like you’ve really gotten away, even if just for the day. Traveling as a walk-on passenger is even more relaxing, eliminating the car line and worrying about whether you’ll make the next sailing. It’s a short but beautiful ferry ride from Seattle to Bainbridge Island and an easy walk from the ferry dock to downtown Winslow’s museum, shops, galleries, restaurants and parks.
Bainbridge is a great last minute “what should we do today” activity on a sunny day. There’s plenty to do for an afternoon or linger a bit longer and make it a dinner date.
Summer May Offer Temporary Relief for Home Buyers
Downtown Bellevue Skyline
This week’s press release from the Northwest Multiple Listing Service (NWMLS) provided a hint of hopeful news for local home buyers. NWMLS data shows the number of active listings added to the market in June was at it’s highest level in 17 months.
In the tri-county area (King, Snohomish and Pierce counties) single family and condo inventory was up 14% in June compared to May. It’s tough to know how the typical summer slowdown when buyers and sellers take a vacation break, could impact the market. With the easing of COVID restrictions, more people may choose to travel and temporarily abandon their home search.
If there’s a pause in the summer market, it isn’t likely to last long. Tech companies continue to lease large blocks of office space, so it can be expected hiring will accelerate as well which will put demand on available housing inventory. Tech industry growth may also increase demand for the urban housing market in the third and fourth quarters as employees return to downtown offices and the many buildings under construction, and already leased, are completed and occupied.
Condo sales activity was hit hard in the early days of the strict COVID restrictions, mostly due to concerns about living in a community setting and navigating elevators and common areas. As those restrictions have eased condo sales have increased – nearly 60% compared to a year ago – and prices have increased more than 20%. Interest in urban living will likely continue as employees return to downtown workplaces and companies ramp up hiring.
For buyers who decide to stay-cation and continue their home search efforts, July and August could provide opportunities. Staying ahead of the fall hiring cycle and corporate relocation schedule could pay off for buyers this summer.
Robin Myers lives and works in downtown Bellevue. She is a Realtor® with Windermere Real Estate specializing in condominiums and urban lifestyles.
Bellevue Farmers Market Opens May 13th
courtesy: flickr
It’s a sure sign spring is here . . . the 2021 Bellevue Farmers Market opens this week. The market is open every Thursday from 3:00 to 7:00 PM. You’ll find the market at the same location as years past – Bellevue Presbyterian Church located at 1717 Bellevue Way NE. Look for a variety of vendors offering fruits, vegetables and cut flowers that will change with the season. All vendors grow and/or make all featured products within Washington State.
East Link Light Rail Progress
While shops and restaurants were closed throughout 2020, construction progress for Sound Transit’s East Link Light Rail continued moving forward. Tracks have been installed across I-90 and throughout the Eastside, stations are under construction, the Bel-Red maintenance facility is complete and landscaping is beginning to frame the tracks and stations. Driving through the Bel-Red neighborhood last week it was exciting to see trains parked outside the maintenance building.
Great news for commuters . . .parking at the South Bellevue Park-and-Ride will be available to bus riders later this year. The East Link South Bellevue Station garage will open to bus service in September 2021, nearly two years before train service begins.
When East Link opens in 2023 riders will have access to nearly 40 miles of light rail from the Eastside to downtown Seattle, Northgate and Sea-Tac Airport. Trains are scheduled to run every 6 minutes at peak hours. Estimated travel time from the Redmond Technology station to Bellevue Downtown is 10 minutes – South Bellevue to Sea-Tac just under 50 minutes.
Building light rail that travels on solid ground and a floating bridge has never been done before. It has taken years to design a safe and dependable system that will integrate with the I-90 floating bridge and continue to sustain auto traffic. Learn more in this video about the design and construction process.
2021 US Housing Forecast – What to Expect Next Year
This week Matthew Gardner, Windermere Chief Economist, takes a look at the US housing forecast for 2021. Topics include mortgages, existing home sales, existing home values, new construction, the impact of homes in forbearance and the urban condo market. Overall the outlook is positive for a continuing strong real estate market and low interest rates.
Matthew Gardner’s Housing & Economic Update
This week Matthew Gardner, Windermere’s Chief Economist, shares his thoughts on the latest US home sales data.
Single family and multi family home values continue to rise while available inventory levels continue to decline. What’s the news for condos? Condo prices are trending higher nationwide, up 10% year-over-year. It’s difficult to know how long this trend can be sustained as we close 2020. What could impact values next year? We may hit an affordability issue, which could push some buyers out of the market, and increasing inventory levels may create more selection for buyers but more competition for sellers.
I specialize in Bellevue’s condo and townhome communities. If you have questions about the market or what’s been happening in your community, call, text or email.
Happy Thanksgiving. While this year may be very different from years past, if you have an opportunity to safely share the holiday with family, enjoy the day. Be safe and stay healthy.
Snowflake Lane 2020
flickr/GoToVan
The trees lining Bellevue Way have been decorated in sparkling holiday lights and the toy drums have arrived and line the sidewalks. Soon toy soldiers will take their places on top of the drums. The holidays are almost here.
The Bellevue Collection’s Snowflake Lane will have a different look this year. The holiday season kicks off November 27th with a nightly celebration of lights, music and the occasional “snow” shower along Bellevue Way between NE 8th and NE 4th Streets. Keeping everyone’s safety in mind, there will be no parade or performers this year, but every night between 5:00 PM and 9:00 PM through December 24th you can still take a walk or drive down Bellevue Way and enjoy the sights, sounds and spirit of the season.
Changes Planned for the Marketplace at Factoria
flickr/William Forney
Its been rumored for years that Factoria Mall would be redeveloped to make better use of the large parcel. The mall and several free standing buildings currently occupy the 43 acre site. An application for design review has been submitted to the City of Bellevue for redevelopment of the Marketplace at Factoria. Eight phases are planned which will include expanding current retail space, adding a multi-family residential building, 150 room hotel, office buildings and renovation of the existing mall to increase the size and create an open-air shopping mall. Current retail tenants may need to be relocated throughout the redevelopment process that will add 151,000 square feet of retail to the mall’s current 525,948 square feet. The project will be completed in 8 phases.
Improvements include pedestrian improvements to create a safer walking environment, enhanced landscaping, an extension of the bike/pedestrian path and a new crosswalk across SE 38th Street.
Later phases of the project will add a large gathering plaza to connect to two new office buildings to be constructed on the current Walmart site, which will be moved to a new location within the project.
