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Univ. of Washington set to break ground on 69-acre redevelopment to create Seattle innovation hub

GeekWire

Portage Bay Crossing will complement growth initiatives already underway in the area, said Don Blakeney, executive director of The U District Partnership, a nonprofit group promoting the neighborhood. “It’s It’s exciting to see these different parts coming together,” he said.

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Washington Supreme Court case for controversial capital gains tax begins this week

GeekWire

The law imposed a 7% tax on capital gains of more than $250,000 from the sale of stocks and bonds, excluding revenue from real estate and retirement accounts, among other exceptions. If you own property and sell it, you’re subject to a real estate excise tax,” he said. What’s the controversy?

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Biotech industry leaders share cautious optimism for 2023 amid downturn and layoffs

GeekWire

Earlier companies are considering fewer development programs and having a slower ramp on hiring. Everyone is budgeting 50% longer to raise their rounds,” said Canestaro. Neoleukin Therapeutics recently shed staff in the wake of disappointing clinical data for its lead program, for example. Phage Genomics CEO Ivan Liachko.

Industry 106
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Amid widespread tech industry layoffs, some companies are still hiring in a ‘flipped’ labor market

GeekWire

Cosmetic treatment review platform RealSelf ; pet sitting giant Rover ; and real estate company Redfin have all cut positions, among other companies. Venture capital funding could be headed for a “drought,” further reducing hiring budgets. Seattle real estate giant Zillow is also freezing hiring plans.

Industry 101