Tuesday, November 3, 2015

$74 Million dollar apartment sale near Microsoft sets a record for downtown Redmond

This eye-opening article was published in the Puget Sound Business Journal on November 2 by Marc Stiles.

 $74M apartment sale near Microsoft sets a record for downtown Redmond

A reader informs me this apartment complex is right across the street from the brick ThinkSpace office building in Downtown Redmond.  If you have any interest in Redmond's rapid downtown growth this is a must read.

Bob Yoder


Anonymous said...

It's quite disappointing that the very liberal Mayor and Redmond City Council members are not requiring a better balance of condos with apartments. Not everyone wants to pay rent to big corporations when they decide to live in a neighborhood long term. Where are the opportunities for the middle class to OWN their living space downtown? Why hasn't office space also been a more significant part of the downtown development so the apartment dwellers can walk or bike to work? After all, the City Council and Mayor wants to make it as unpleasant as possible to drive (no major road or mass transit expansions have come along with the increase in density) and just as challenging to park your car (Required permitting for parking is small).

Anonymous said...

Notice how they describe the changes in the article. Very consistent with what I've discovered in OneRedmond's business plan. Steve Fields is right. Our downtown core was highjacked and morphed into something foreign to Redmond. And with 7k new apts, we are more than halfway to meeting our 20 year obligation. Does that mean we'll stop building when we hit 13k Kim? And how much of that 13 k was accepted voluntarily? When I read the plan it said 10k. Where'd the other 3k come from?

Anonymous said...

How is the mayor and council supposed to prevent what is happening to downtown? I don't like it either, but they are just complying with the state's growth management plan.

How would Steve Field do anything different which would change the eventual outcome, besides cancelling the downtown park for which longtime businesses were already displaced?

Bob Yoder said...

I've heard the Mayor is purposefully trying to attract growth even if it exceeds GMA targets. Also that he's just using the GMA as a con for growth. Don't know. Just call them rumors.