Seattle Metro Area

Prop 2's passing means more parks and green space for Seattle

Due to prop 2's passing $145 million will be put towards new parks, trails and green space throughout Seattle.  This will include restoration and improvements to many existing parks.  Queen Anne and Magnolia will receive about $3.5 million of this money while Discovery Park receives the majority of funds to restore the Capehart site.  According to an article in The Queen Anne Magnolia News, $1 million from prop 2 will now pay to get rid of the concrete of a former 23 acre residential property that the city purchased from American Eagle Communities, LLC in 2004 for $9 million, and restore the area to its natural green setting.

Westlake Center to find new ownership

Many Seattleites recognize Westlake Center as a downtown landmark.  A landmark that also houses the Seattle Monorail Station.  According to a recent Seattle P.I. article, this unique property will soon be up for sale and should generate a lot of interest according to Steve Koehler, president of Koehler & Co.

"A property like this doesn't come onto the market very often, It should generate a good deal of interest.  It's a unique location."

Business leaders have often discussed the need to improve Westlake Center to match nearby retail centers such as Pacific Place.  This can particularly be important as a first impression to tourists.  With new ownership we will see just what the future holds for one of our beloved landmarks. 

Photo Credit: http://www.flickr.com/photos/jennmau/199410956/

Go West my friend! Smart Money's on West Seattle

Smart Money Magazine has recently featured an article stating that certain areas of the country are escaping the major brunt of the housing bubble. In particular, the author states:

 "The Emerald City is that rare major metro area near the coast that is not on a nausea-inducing roller-coaster ride." He then goes on to say that "The most resilient part of the region lies across the Duwamish River from downtown, in West Seattle...As long as people like great views of water, mountains, and city skylines, those homes will always maintain their value" 

The article also illustrated that the overwhelming majority of local homeowners that bought within the last five years are not experiencing negative equity on their property.

South Lake Union's transformation continues

Vulcan Inc. has announced that a new Seastar Restaurant will open in 2009 in Seattle's South Lake Union neighborhood!  This is very exciting news as this neighborhood continues to take shape and form itself into another unique Seattle neighborhood that has much to offer.  If you don't know much about Chef John Howie here is an excerpt from the Puget Sound Business Journal:

Howie opened Seastar Restaurant and Raw Bar in 2002 in Bellevue.  He's also the co-owner of Sport Restaurant and Bar near Seattle Center, which opened in 2005, and also opened Adriatic Grill Italian Cuisine & Wine Bar earlier this year in Tacoma.  Howie is also planning to open a steakhouse in Bellevue next year.  Howie was also quoted in this same article saying: "South Lake Union offers a remarkable business growth opportunity as a prime location to expand in the Seattle market.  The location of this restaurant will be above the recently added Whole Foods on Denny Way."