• Microsoft plans to hire more employees over the next few years. It will spend $1 billion to expand the campus by more than a third, or 3.1 million square feet, during the next three years. That includes new leases and the purchase and construction of 14 buildings. This is definitely going to be a boon for the Seattle housing market. Read more.
• Nearly 1,000 condos, apartments planned for Qwest Field. A team of developers headed by Seattle firm Nitze-Stagen is expected to pay King County $10 million for 3.85 acres of the parking lot to the north of Qwest Field. Key details of the development:
– 562 apartments, including 140 units considered affordable to renters earning $35,000 a year.
– 1,035 parking stalls, including 500 spaces to fully replace public parking now on the property.
– 25,000 square feet of street-level retail, including a grocery store.
– 862,000 square feet of building space.
– $270 million estimated development cost
This is definitely good news for Pioneer Square residents. Read more.
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