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July 29, 2016

Expedia scales back plans for Seattle campus

By JOURNAL STAFF

SEATTLE — Expedia Inc. is scaling back plans for a new campus on Seattle’s waterfront, potentially saving the online travel firm as much as $600 million in construction costs, Bloomberg reported.

Expedia’s Chief Financial Officer Mark Okerstrom said in an interview with Bloomberg that the Bellevue-based company has decided to take a “modular approach” and build space on the new campus as needed in the coming years, rather than build excess space.

In a second quarter earnings call yesterday, Okerstrom said that Expedia has looked at the campus design “with a focus on budget and phasing” and believes it can have the property ready for use in 2019 for “closer to half” of the previous estimated cost of $1 billion to $1.2 billion.

Expedia is working with Bohlin Cywinski Jackson on the design. GLY Construction will do construction and Unico Properties will provide property management.




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