Subscribe / Renew |
|
Contact Us |
|
► Subscribe to our Free Weekly Newsletter |
home | Welcome, sign in or click here to subscribe. | login |
print email to a friend reprints add to mydjc |
Marc Stiles Real Estate Editor |
December 22, 2005
In newsrooms, story leads pile up like snow in Syracuse. It seems that no matter how fast you shovel, you'll never catch up. If the Buzz were going to be here a little longer (more about this later), here's some of what he would do:
More about downtown Bellevue
Kemper Development's secret weapon in the office tower war is the critical mass in what it has dubbed the Bellevue Collection: Bellevue Square, Bellevue Place and now Lincoln Square. There's a lot more to come, according to Kemper Freeman Jr.
In a speech last week, he said next up is doubling the size of the Hyatt at Bellevue Place, which is in the midst of a $20 million remodel. "By summer we'll start the twin," Freeman said.
His company already is planning its next big project: the parcel south of Lincoln Square. It will have 160 condos, office space, a hotel and up to 400,000 square feet of retail, and it will be done in four years.
Kemper Development's longtime architect, Sclater Partners Architects, is designing it, and GLY will be the contractor, according to a company spokeswoman. "We'll start to announce the beginning of these projects sometime early next year."
Freeman said demand for condos downtown is unbelievable. Buyers are lining up to get into the tower south of Lincoln Square. "All they know is we are going to build it. If that doesn't show some market strength, I don't know what does," he says.
Don't take this to mean demand will never end. Thirty condo projects are in the pipeline in Bellevue, according to Freeman, suggesting some poor souls will eventually find out where the end of the market is.
That's another story to watch.
Now there's a challenge
For the first time, Washington State University will compete in the Pacific Northwest Real Estate Challenge this spring.
The team from Pullman will compete against real estate, planning and finance students from the University of Washington, Portland State and the University of British Columbia in the contest, which the National Association of Industrial and Office Properties hosts.
This year's assignment: figure out how to develop the area between the Alaskan Way Viaduct, Western Avenue, and Spring and Seneca streets.
This is it for the Buzz
After two-plus years of penning this column, which we hope you have found to be pithy, the Buzz is departing for a new challenge as senior writer/account executive at Nyhus Communications, a growing public relations and public affairs company.
Discussions with President and CEO Roger Nyhus started in early November, but the ball really started rolling last winter when a friend was in town for lunch. On the way to Fado, he pointed to the Rainier Club and asked about it. He stopped to study the gabled, brick building and remarked how it would be a great place to have my retirement party. Hearing the words "retirement party" made my socks fall down. It was one of those moments that forces you to ask: Is this what I want to do for the rest of my life?
Then Nyhus came knocking with the opportunity to use skills already in my possession and learn new ones, too.
I can see the jaws of colleagues dropping: "PR!? But that's The Dark Side!"
They can call it what they like, but I know it's not so black and white. Besides, I want to take a chance and try something new. If I don't, my retirement party wherever it ends up could be a dreary affair with me looking back and wondering what might have been.
Got a tip? Contact DJC real estate editor Brian Miller at brian.miller@djc.com or call him at (206) 219-6517.
Previous columns: