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Seattle mayor proposes legislation to help convert commercial real estate for residential uses

GeekWire

(GeekWire Photo / Kurt Schlosser) Seattle Mayor Bruce Harrell wants to make it easier for property owners to convert their commercial buildings for residential use, amid a backdrop of a shaky commercial real estate market and the threat of decreased tax revenue for cities. Read Harrell’s full office conversion proposal below.

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Former AWS real estate managers, accused of taking millions in kickbacks, challenge Amazon’s motives amid FBI investigation

GeekWire

Eleven data center deals are now the subject of a suit by Amazon vs. two former AWS real estate managers and others. Two of the participants in the August 2017 meeting — Casey Kirschner, an AWS real estate manager, and Carl Nelson, Kirschner’s boss and mentor — were leading that physical expansion for Amazon.

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Seattle office market continues to struggle as vacancy rates rise for ninth consecutive quarter

GeekWire

Companies are reducing real estate footprints with the adoption of hybrid work policies. At the same time, the tech downturn that began in 2022 caused many companies to trim expenses and lay off workers, reducing the need for office space. Before the pandemic, vacancy rates in the Seattle region were around 6%.

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Commercial furniture and equipment procurement platform Source snags $8.5M

GeekWire

Source CEO Nicole Schmidt says the hospitality industry has been a driver of growth amid the broader real estate market slowdown. based startup that helps architectural and design firms procure interior design products for commercial real estate projects, raised $8.5 Source Photo) Source , a Portland, Ore.-based

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Seattle approves new city budget that plugs shortfalls with surplus revenue from business tax

GeekWire

Amazon’s Spheres and other buildings at the company’s headquarters campus in Seattle. Now the city is using the surplus to help close major gaps in its budget. ” Seattle already faced operating deficits of $141 million for 2023 and $152 million for 2024 before the budget planning process began this fall. .”

Budget 84
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Former Zillow execs expand mortgage startup Tomo into home search

GeekWire

Tomo’s real estate app uses OpenAI to power text search capabilities. Tomo Image) Tomo’s real estate app uses OpenAI to power text search capabilities. Tomo Image) Tomo’s real estate app uses OpenAI to power text search capabilities. Answers were edited for brevity and clarity.

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Seattle lawmakers axe funds for gunshot detection tech that was part of mayor’s public safety push

GeekWire

billion city budget for 2023 will not include funds sought by Mayor Bruce Harrell for gunshot detection technology. The technology being sought, developed by companies such as Fremont, Calif. All proposed funding was eventually cut from the budget. The City of Seattle is facing major shortfalls in its budget.

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