Category Archives: North Bend Real Estate

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Seattle’s hot real estate market begins to slow



Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com


Seattle's hot real estate market begins to slow

Real estate markets, including Seattle's, are seeing a dramatic slowdown, according to a recent analysis.

Real estate markets, including Seattle's, are seeing a dramatic slowdown, according to an analysis by Redfin.
Seattle was one of 14 metro areas in the country this spring where half or more of the homes listed for sale between March 5 and April 29 went under contract within two weeks.
But things are changing, at least for now.

By mid-September, spring's fastest-selling markets, including Seattle, saw big declines. About 35 percent of homes for sale in Seattle were off the market in two weeks or less over the summer - a drastic change from spring, when 72 percent were off the market within two weeks.

According to Redfin Chief Economist Daryl Fairweather, sellers are waiting longer for offers and many are having to drop their list price to attract buyers.
There are a few exceptions. Omaha, Nebraska; Grand Rapids, Michigan; and Boise, Idaho are still seeing more listing go pending faster than a year ago, though the markets have slowed since spring. The common factor, Redfin points out, is they're smaller cities away from the coast where homes are more affordable.
"This points to a lack of affordability as potentially the biggest factor in why the previously red-hot markets have slowed so much this year," the report states.
King County and much of the Puget Sound region saw housing inventory break past two months for the first time since January 2015, according to a recent report.
Housing inventory – or how long it would take to sell all homes on the market – sat at 2.83 months in King County, which is a 78 percent increase over last year. Snohomish (2.18 months), Pierce (2.01 months), and Kitsap (1.93 months) counties all saw increases in inventory as well.
Inventory in King County has steadily risen about 40 percent since may.
Author: KING Staff


Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Seattle’s hot real estate market begins to slow



Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com


Seattle's hot real estate market begins to slow

Real estate markets, including Seattle's, are seeing a dramatic slowdown, according to a recent analysis.

Real estate markets, including Seattle's, are seeing a dramatic slowdown, according to an analysis by Redfin.
Seattle was one of 14 metro areas in the country this spring where half or more of the homes listed for sale between March 5 and April 29 went under contract within two weeks.
But things are changing, at least for now.

By mid-September, spring's fastest-selling markets, including Seattle, saw big declines. About 35 percent of homes for sale in Seattle were off the market in two weeks or less over the summer - a drastic change from spring, when 72 percent were off the market within two weeks.

According to Redfin Chief Economist Daryl Fairweather, sellers are waiting longer for offers and many are having to drop their list price to attract buyers.
There are a few exceptions. Omaha, Nebraska; Grand Rapids, Michigan; and Boise, Idaho are still seeing more listing go pending faster than a year ago, though the markets have slowed since spring. The common factor, Redfin points out, is they're smaller cities away from the coast where homes are more affordable.
"This points to a lack of affordability as potentially the biggest factor in why the previously red-hot markets have slowed so much this year," the report states.
King County and much of the Puget Sound region saw housing inventory break past two months for the first time since January 2015, according to a recent report.
Housing inventory – or how long it would take to sell all homes on the market – sat at 2.83 months in King County, which is a 78 percent increase over last year. Snohomish (2.18 months), Pierce (2.01 months), and Kitsap (1.93 months) counties all saw increases in inventory as well.
Inventory in King County has steadily risen about 40 percent since may.
Author: KING Staff


Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Backyard Cottages

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com


How backyard cottages could open up Seattle’s housing market


Seattle City Council took a step closer toward legislation that would make “accessory dwelling units” easier to build, helping to offset mortgage costs for Seattle homeowners.
This comes hot on the heels of a study released by the City Council, evaluating “the potential environmental impacts of proposes changes to the City’s Land Use Code intended to remove barriers to the creation of accessory dwelling units (ADUs) in single-family zones.”
In layman’s terms, the city is looking to simplify and streamline the process for homeowners to build ADUs on their properties, known colloquially as backyard cottages or in-law units.
Homeowners would then be able to rent these units out, providing an additional source of income that could then be put toward anything from day-to-day living to mortgage payments. Alternatively, it also opens up more housing options for renters.
“We believe that backyard cottages will allow homeowners to increase the number and variety of housing choices in single-family zones,” said Councilmember Mike O’Brien in a press release announcing the release of the study.
Imagine buying a home with a mortgage outside of your price range, but being able to balance that out — or even completely cover the mortgage cost — by collecting rent from a backyard cottage. Opening up zoning requirements to make that easier is the goal for the City Council, touting it a small, creative fix to help offset Seattle’s ballooning housing market.
A planned bill would “remove some barriers to building ADUs, including changes to off-street parking rules, owner-occupancy requirements, and design standards.” The Seattle Times estimates that this would add approximately 2,500 ADUs in the next 10 years, and prevent 500 houses from being torn down to build “McMansions.”
Up until recently though, the City of Seattle has been charging an arm and a leg in zoning fees for anyone trying to build an ADU on their property.

A change that couldn’t have come soon enough for homeowners

“Most of the municipalities in the Pacific Northwest are in the fee-generating business,” noted KIRO Radio’s Ron Upshaw. “What this entire thing has been structured for up until this point is for them to collect fees.”
Hopefully, homeowners are about to see some relief once the City Council finally settles on new legislation.
Between this, and a promising report from Northwest Multiple Listing Service (MLS), it seems as though the local housing market could finally be softening for new buyers on a budget.
“In the South Sound the market has shifted into neutral and is idling at the moment,” Dick Beeson of RE/MAX Professionals said in the Northwest MLS report. He went on to point out how housing availability improved in Pierce and Thurston counties, “but nowhere near what King County has experienced.”
“Buyers are taking deep breaths as they survey this new territory,” said Beeson, claiming that potential buyers will soon see more homes available for sale for the first time in three years.

If homeowners are made able to both offset their own costs and provide additional housing to renters, that can only mean good things for anyone looking to buy in Seattle in the near future.



Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Backyard Cottages

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com


How backyard cottages could open up Seattle’s housing market


Seattle City Council took a step closer toward legislation that would make “accessory dwelling units” easier to build, helping to offset mortgage costs for Seattle homeowners.
This comes hot on the heels of a study released by the City Council, evaluating “the potential environmental impacts of proposes changes to the City’s Land Use Code intended to remove barriers to the creation of accessory dwelling units (ADUs) in single-family zones.”
In layman’s terms, the city is looking to simplify and streamline the process for homeowners to build ADUs on their properties, known colloquially as backyard cottages or in-law units.
Homeowners would then be able to rent these units out, providing an additional source of income that could then be put toward anything from day-to-day living to mortgage payments. Alternatively, it also opens up more housing options for renters.
“We believe that backyard cottages will allow homeowners to increase the number and variety of housing choices in single-family zones,” said Councilmember Mike O’Brien in a press release announcing the release of the study.
Imagine buying a home with a mortgage outside of your price range, but being able to balance that out — or even completely cover the mortgage cost — by collecting rent from a backyard cottage. Opening up zoning requirements to make that easier is the goal for the City Council, touting it a small, creative fix to help offset Seattle’s ballooning housing market.
A planned bill would “remove some barriers to building ADUs, including changes to off-street parking rules, owner-occupancy requirements, and design standards.” The Seattle Times estimates that this would add approximately 2,500 ADUs in the next 10 years, and prevent 500 houses from being torn down to build “McMansions.”
Up until recently though, the City of Seattle has been charging an arm and a leg in zoning fees for anyone trying to build an ADU on their property.

A change that couldn’t have come soon enough for homeowners

“Most of the municipalities in the Pacific Northwest are in the fee-generating business,” noted KIRO Radio’s Ron Upshaw. “What this entire thing has been structured for up until this point is for them to collect fees.”
Hopefully, homeowners are about to see some relief once the City Council finally settles on new legislation.
Between this, and a promising report from Northwest Multiple Listing Service (MLS), it seems as though the local housing market could finally be softening for new buyers on a budget.
“In the South Sound the market has shifted into neutral and is idling at the moment,” Dick Beeson of RE/MAX Professionals said in the Northwest MLS report. He went on to point out how housing availability improved in Pierce and Thurston counties, “but nowhere near what King County has experienced.”
“Buyers are taking deep breaths as they survey this new territory,” said Beeson, claiming that potential buyers will soon see more homes available for sale for the first time in three years.

If homeowners are made able to both offset their own costs and provide additional housing to renters, that can only mean good things for anyone looking to buy in Seattle in the near future.



Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Backyard Cottages

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com


How backyard cottages could open up Seattle’s housing market


Seattle City Council took a step closer toward legislation that would make “accessory dwelling units” easier to build, helping to offset mortgage costs for Seattle homeowners.
This comes hot on the heels of a study released by the City Council, evaluating “the potential environmental impacts of proposes changes to the City’s Land Use Code intended to remove barriers to the creation of accessory dwelling units (ADUs) in single-family zones.”
In layman’s terms, the city is looking to simplify and streamline the process for homeowners to build ADUs on their properties, known colloquially as backyard cottages or in-law units.
Homeowners would then be able to rent these units out, providing an additional source of income that could then be put toward anything from day-to-day living to mortgage payments. Alternatively, it also opens up more housing options for renters.
“We believe that backyard cottages will allow homeowners to increase the number and variety of housing choices in single-family zones,” said Councilmember Mike O’Brien in a press release announcing the release of the study.
Imagine buying a home with a mortgage outside of your price range, but being able to balance that out — or even completely cover the mortgage cost — by collecting rent from a backyard cottage. Opening up zoning requirements to make that easier is the goal for the City Council, touting it a small, creative fix to help offset Seattle’s ballooning housing market.
A planned bill would “remove some barriers to building ADUs, including changes to off-street parking rules, owner-occupancy requirements, and design standards.” The Seattle Times estimates that this would add approximately 2,500 ADUs in the next 10 years, and prevent 500 houses from being torn down to build “McMansions.”
Up until recently though, the City of Seattle has been charging an arm and a leg in zoning fees for anyone trying to build an ADU on their property.

A change that couldn’t have come soon enough for homeowners

“Most of the municipalities in the Pacific Northwest are in the fee-generating business,” noted KIRO Radio’s Ron Upshaw. “What this entire thing has been structured for up until this point is for them to collect fees.”
Hopefully, homeowners are about to see some relief once the City Council finally settles on new legislation.
Between this, and a promising report from Northwest Multiple Listing Service (MLS), it seems as though the local housing market could finally be softening for new buyers on a budget.
“In the South Sound the market has shifted into neutral and is idling at the moment,” Dick Beeson of RE/MAX Professionals said in the Northwest MLS report. He went on to point out how housing availability improved in Pierce and Thurston counties, “but nowhere near what King County has experienced.”
“Buyers are taking deep breaths as they survey this new territory,” said Beeson, claiming that potential buyers will soon see more homes available for sale for the first time in three years.

If homeowners are made able to both offset their own costs and provide additional housing to renters, that can only mean good things for anyone looking to buy in Seattle in the near future.



Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Renton’s Sunset Area Plans



Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com



City moves forward with Sunset area plans



Many Renton residents may have been wondering what is happening with the Greater Hi-Lands shopping center —the center that features a Dollar Tree, Tea Palace and vast parking spaces.
The area is part of the city of Renton’s Sunset Area Transformation Plan. In late July, after eight months of back-and-forth with developers, the city received a formal application for the Solera Project, an 11-acre development with more than 670 residential units, commercial space, a daycare and two new public streets.
“It was a long process before they even came in with this back-and-forth, making sure that this was something the city would support,” city of Renton planner Matt Herrera said. “This is a small part of a overall greater vision for the neighborhood, which the city has provided lots of capital investment for, so staff is very careful reviewing projects and making sure it fits the parameters of what the city has envisioned for the area.”
Although the building costs have yet to be determined, the site development costs are estimated at $8.5 million. The estimated fair market value of this project is $65 million, according to the project narrative from Quarant the city received in June.
Solera will provide a shopping area, along with town homes and market rate homes to integrate with affordable housing in the area. The residential area will have 152 town homes with their own back alleys for sale, and in front would feature two mixed-use buildings with senior housing, market rate housing, commercial space and daycare on the ground floor of each and underground parking.
This vision has been in action since 2008. The sunset area has been in significant need, Deputy Public Affairs Administrator Preeti Shridhar said.
More than 27 percent of the households are in poverty with residents lacking access to living-wage jobs and career advancement and low home ownership.
Shridhar said community amenities, business revitalization and creating a walkable integrated and engaging environment for the community is all part of the project.
Residents have mentioned gentrification of the area as a concern. Herrera said while gentrification is a concern around the region, this area has the benefit of being mixed housing, so there won’t be a line between affordable and market-rate housing. The affordable housing areas being rebuilt by Renton Housing Authority will always have a presence here, he said.
The Renton Housing Authority has created more affordable housing than it started with in the areas of rebuilding, Shridhar said. According to documents one project, Sunset Terrace public housing project with 100 units, is being rebuilt to now contain 172 units. Herrera says this affordable housing is integrated into the Sunset court area.
Shridhar worked for a similar project in Seattle High Point, that created a community with integrated mixed-use and affordable housing. She said its been wonderful to watch the thinking stage of Sunset revitalization transform to planning.
Another concern was school overcrowding and traffic in the area. Herrera said the private developers are responsible for school impact fees to the Renton School District for any increased needs to facilities, as well as transportation impact fees to the city and the impact of any of the new streets. Another overall focus is making sure the project can receive rapid transit from King County Metro as well.
The proposed area will also include pedestrian focused layout. With sidewalks on either side of the crossing streets, short crossing distances for pedestrians to limit vulnerability when crossing the street, and stoops and shared yards creating a “cottage-housing feel,” Herrera said.
The buildings with commercial leases will also have a buffer between them and the busy road Sunset Blvd. that mimics a similar project in Bothell. The streetscape features a strip of landscaping, parallel parking, a small road alongside Sunset and then 12 feet of sidewalk before the commercial stores, creating a separation from the noisy road and encouraging restaurant tenants on the ground floor.
The only store remaining from the Greater Hi-Lands shopping center will be the U.S. Bank, which will lose it’s drive thru and become walk-up, Herrera said.
The proposed Solera project will have a public hearing on Oct. 9 where the hearing examiner will be able to determine if the project is ready to go through. If it does, Quadrant intends to break ground next spring and have it completed in three years. Herrera said although this timeline is aggressive and fast, the private developer definitely has a stake in this project.
When the developer brought this project to a public neighborhood meeting earlier this year at Highland Library, it brought in one of the larger crowds the city has seen with around 30 people in attendance.
“Folks over last ten years have assumed this growth is coming, they’ve seen the city capital improvement projects, but now they’re seeing the private market come in,” Herrera said. “So I don’t think it’s surprising for anyone, there just might be some confusion on what’s being built.”
Phase 1, which would potentially begin spring 2019, would include the first mixed-use commercial building, the buffer, and the roads.

Note: This article has been corrected to show that the meeting held earlier this year at Highland Library was a public informational meeting and not a public hearing, which is a formal hearing where the public provides testimony for legislation.



Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Renton’s Sunset Area Plans



Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com



City moves forward with Sunset area plans



Many Renton residents may have been wondering what is happening with the Greater Hi-Lands shopping center —the center that features a Dollar Tree, Tea Palace and vast parking spaces.
The area is part of the city of Renton’s Sunset Area Transformation Plan. In late July, after eight months of back-and-forth with developers, the city received a formal application for the Solera Project, an 11-acre development with more than 670 residential units, commercial space, a daycare and two new public streets.
“It was a long process before they even came in with this back-and-forth, making sure that this was something the city would support,” city of Renton planner Matt Herrera said. “This is a small part of a overall greater vision for the neighborhood, which the city has provided lots of capital investment for, so staff is very careful reviewing projects and making sure it fits the parameters of what the city has envisioned for the area.”
Although the building costs have yet to be determined, the site development costs are estimated at $8.5 million. The estimated fair market value of this project is $65 million, according to the project narrative from Quarant the city received in June.
Solera will provide a shopping area, along with town homes and market rate homes to integrate with affordable housing in the area. The residential area will have 152 town homes with their own back alleys for sale, and in front would feature two mixed-use buildings with senior housing, market rate housing, commercial space and daycare on the ground floor of each and underground parking.
This vision has been in action since 2008. The sunset area has been in significant need, Deputy Public Affairs Administrator Preeti Shridhar said.
More than 27 percent of the households are in poverty with residents lacking access to living-wage jobs and career advancement and low home ownership.
Shridhar said community amenities, business revitalization and creating a walkable integrated and engaging environment for the community is all part of the project.
Residents have mentioned gentrification of the area as a concern. Herrera said while gentrification is a concern around the region, this area has the benefit of being mixed housing, so there won’t be a line between affordable and market-rate housing. The affordable housing areas being rebuilt by Renton Housing Authority will always have a presence here, he said.
The Renton Housing Authority has created more affordable housing than it started with in the areas of rebuilding, Shridhar said. According to documents one project, Sunset Terrace public housing project with 100 units, is being rebuilt to now contain 172 units. Herrera says this affordable housing is integrated into the Sunset court area.
Shridhar worked for a similar project in Seattle High Point, that created a community with integrated mixed-use and affordable housing. She said its been wonderful to watch the thinking stage of Sunset revitalization transform to planning.
Another concern was school overcrowding and traffic in the area. Herrera said the private developers are responsible for school impact fees to the Renton School District for any increased needs to facilities, as well as transportation impact fees to the city and the impact of any of the new streets. Another overall focus is making sure the project can receive rapid transit from King County Metro as well.
The proposed area will also include pedestrian focused layout. With sidewalks on either side of the crossing streets, short crossing distances for pedestrians to limit vulnerability when crossing the street, and stoops and shared yards creating a “cottage-housing feel,” Herrera said.
The buildings with commercial leases will also have a buffer between them and the busy road Sunset Blvd. that mimics a similar project in Bothell. The streetscape features a strip of landscaping, parallel parking, a small road alongside Sunset and then 12 feet of sidewalk before the commercial stores, creating a separation from the noisy road and encouraging restaurant tenants on the ground floor.
The only store remaining from the Greater Hi-Lands shopping center will be the U.S. Bank, which will lose it’s drive thru and become walk-up, Herrera said.
The proposed Solera project will have a public hearing on Oct. 9 where the hearing examiner will be able to determine if the project is ready to go through. If it does, Quadrant intends to break ground next spring and have it completed in three years. Herrera said although this timeline is aggressive and fast, the private developer definitely has a stake in this project.
When the developer brought this project to a public neighborhood meeting earlier this year at Highland Library, it brought in one of the larger crowds the city has seen with around 30 people in attendance.
“Folks over last ten years have assumed this growth is coming, they’ve seen the city capital improvement projects, but now they’re seeing the private market come in,” Herrera said. “So I don’t think it’s surprising for anyone, there just might be some confusion on what’s being built.”
Phase 1, which would potentially begin spring 2019, would include the first mixed-use commercial building, the buffer, and the roads.

Note: This article has been corrected to show that the meeting held earlier this year at Highland Library was a public informational meeting and not a public hearing, which is a formal hearing where the public provides testimony for legislation.



Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Renton’s Sunset Area Plans



Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com



City moves forward with Sunset area plans



Many Renton residents may have been wondering what is happening with the Greater Hi-Lands shopping center —the center that features a Dollar Tree, Tea Palace and vast parking spaces.
The area is part of the city of Renton’s Sunset Area Transformation Plan. In late July, after eight months of back-and-forth with developers, the city received a formal application for the Solera Project, an 11-acre development with more than 670 residential units, commercial space, a daycare and two new public streets.
“It was a long process before they even came in with this back-and-forth, making sure that this was something the city would support,” city of Renton planner Matt Herrera said. “This is a small part of a overall greater vision for the neighborhood, which the city has provided lots of capital investment for, so staff is very careful reviewing projects and making sure it fits the parameters of what the city has envisioned for the area.”
Although the building costs have yet to be determined, the site development costs are estimated at $8.5 million. The estimated fair market value of this project is $65 million, according to the project narrative from Quarant the city received in June.
Solera will provide a shopping area, along with town homes and market rate homes to integrate with affordable housing in the area. The residential area will have 152 town homes with their own back alleys for sale, and in front would feature two mixed-use buildings with senior housing, market rate housing, commercial space and daycare on the ground floor of each and underground parking.
This vision has been in action since 2008. The sunset area has been in significant need, Deputy Public Affairs Administrator Preeti Shridhar said.
More than 27 percent of the households are in poverty with residents lacking access to living-wage jobs and career advancement and low home ownership.
Shridhar said community amenities, business revitalization and creating a walkable integrated and engaging environment for the community is all part of the project.
Residents have mentioned gentrification of the area as a concern. Herrera said while gentrification is a concern around the region, this area has the benefit of being mixed housing, so there won’t be a line between affordable and market-rate housing. The affordable housing areas being rebuilt by Renton Housing Authority will always have a presence here, he said.
The Renton Housing Authority has created more affordable housing than it started with in the areas of rebuilding, Shridhar said. According to documents one project, Sunset Terrace public housing project with 100 units, is being rebuilt to now contain 172 units. Herrera says this affordable housing is integrated into the Sunset court area.
Shridhar worked for a similar project in Seattle High Point, that created a community with integrated mixed-use and affordable housing. She said its been wonderful to watch the thinking stage of Sunset revitalization transform to planning.
Another concern was school overcrowding and traffic in the area. Herrera said the private developers are responsible for school impact fees to the Renton School District for any increased needs to facilities, as well as transportation impact fees to the city and the impact of any of the new streets. Another overall focus is making sure the project can receive rapid transit from King County Metro as well.
The proposed area will also include pedestrian focused layout. With sidewalks on either side of the crossing streets, short crossing distances for pedestrians to limit vulnerability when crossing the street, and stoops and shared yards creating a “cottage-housing feel,” Herrera said.
The buildings with commercial leases will also have a buffer between them and the busy road Sunset Blvd. that mimics a similar project in Bothell. The streetscape features a strip of landscaping, parallel parking, a small road alongside Sunset and then 12 feet of sidewalk before the commercial stores, creating a separation from the noisy road and encouraging restaurant tenants on the ground floor.
The only store remaining from the Greater Hi-Lands shopping center will be the U.S. Bank, which will lose it’s drive thru and become walk-up, Herrera said.
The proposed Solera project will have a public hearing on Oct. 9 where the hearing examiner will be able to determine if the project is ready to go through. If it does, Quadrant intends to break ground next spring and have it completed in three years. Herrera said although this timeline is aggressive and fast, the private developer definitely has a stake in this project.
When the developer brought this project to a public neighborhood meeting earlier this year at Highland Library, it brought in one of the larger crowds the city has seen with around 30 people in attendance.
“Folks over last ten years have assumed this growth is coming, they’ve seen the city capital improvement projects, but now they’re seeing the private market come in,” Herrera said. “So I don’t think it’s surprising for anyone, there just might be some confusion on what’s being built.”
Phase 1, which would potentially begin spring 2019, would include the first mixed-use commercial building, the buffer, and the roads.

Note: This article has been corrected to show that the meeting held earlier this year at Highland Library was a public informational meeting and not a public hearing, which is a formal hearing where the public provides testimony for legislation.



Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – U.S. housing costs spurring multigenerational households

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com



Multigenerational living, defined as a household that includes two or more adult generations, has become more common in recent years. According to the most recent Pew Research Center analysis of census data, a record 64 million people (20 percent of the U.S. population) lived in multigenerational homes in 2016—up from 60.6 million Americans (19 percent of the U.S. population) in 2014 and 51.5 million Americans (17 percent of the U.S. population) in 2009.

Why multigenerational living is on the rise

Shifting economic circumstances, an increase in cultural diversity, and evolving lifestyles of older Americans are just a few reasons why families are embracing this type of living arrangement, but perhaps the biggest reason that’s causing this shift is the lack of affordable housing and housing availability in this country.

The housing market

As we all know, the housing market is a giant migraine right now. In March, home prices rose 8.9 percent over the same time a year ago while housing inventory dropped 13.6 percent over the past year. Throw in the lack of new-construction homes and you have a buyer-crowded market where supply just isn’t meeting demand. Multigenerational living is a solution to this problem, providing a more affordable option for those who can’t buy a home in this current real estate climate. 
Kevin Mejia has lived in a multigenerational home his entire life. “My mom is a single mom and living with extended kin was the best from a financial perspective,” says Mejia. Though Mejia doesn’t get much privacy, a common drawback of multigenerational homes, he avoids paying exorbitant rental costs. In New York City, where Mejia lives, and other places around the country, rent prices continue to rise faster than wages, making it extremely difficult to live comfortably on your own. In fact, Mejia says that many of his friends still live with parents and grandparents for this very reason.

Cultural trends

Growing racial and ethnic diversity among the US population also helps explain why multigenerational living is on the rise, according to the Pew Research Center. Though multigenerational living is growing among nearly all US racial groups, Asian and Hispanic populations are growing more rapidly than the white population, and those groups are more likely than whites to live in multigenerational family households. From 2009–2016, 26 percent–29 percent of Asian populations and 23 percent–27 percent of Hispanic populations in the States lived in multigenerational households. Only 13–16% of whites lived in a multigenerational home from 2009–2016.

Social implications of multigenerational housing

Previously, the primary demographic living in multigenerational households were adults aged 85 and older, but in recent years, young adults have more and more opted for this living arrangement: As of 2016, 15 percent of 25- to 35-year-old Millennials were living in their parents’ home. This figure is five percentage points higher than the share of Generation Xers who lived in their parents’ home in 2000 when they were the same age (10 percent). 
This shift could be caused by the dramatic drop in young Americans who are choosing to settle down romantically before the age of 35. Or we can factor in the Great Recession that led to weak employment opportunities, high unemployment rates, and college enrollment expansion (that led to massive student loan debt) that pushed young adults to live with their parents during this period. The numbers show that even if Millennials are able to get out of their parents’ homes, student loan debt, low housing inventory, and housing costs that continue to double year over year are a barrier to homeownership.

Elderly assistance

Another reason why some families opt for multigenerational living is because aging family members require more care, and nursing homes are becoming more difficult to afford. In 2017, the median cost of a private nursing home room in the United States was $97,455 a year, up 5.5 percent from 2016, according to Genworth’s 2017 Cost of Care survey. Considering the medians savings account balance of Americans over 65 is just $10,000, it’s not surprising that families step in to help. To counteract these costs, families are buying homes with multiple living areas or remodeling their current homes to make space for their parents. 
“I think as home prices continue to skyrocket alongside healthcare costs, we will see more pre-planning along these lines as middle-aged people think about their next housing move,” says Misty Weaver, realtor at the Dream Weaver Team. “Even my clients that initially want to downsize end up in a home that can somehow accommodate older family members.” 
There’s also the issue of single parents working or dual parents working, which can be problematic when caring for kids and getting them to and from different activities. “With a multigenerational household, this stress is relieved and everyone can thrive,” says Lisa Cini, ASID, IIDA, who has more than 25 years of experience developing interiors that improve the quality of life for seniors, and who lives in a multigenerational home herself.

Companionship and family bonding

Another reason some families choose to live intergenerationally is for the companionship. Cini reflects on how her multigenerational home fosters companionship between her parents and children. “My parents say they love it because the kids have so much energy and are so fun, that they actually have more energy being around them!” says Cini. She recalls how her own children love the wisdom imparted from their grandparents and great-grandmother and love hearing them tell stories about when they grew up. 
“The kids also love being able to be the ‘tech experts,’ teaching [my parents] all about their smart phones, Facebook, Instagram and Snapchat,” says Cini. And the learning goes both ways. “There’s something special about having your grandmother teach you her recipes or take care of you when you are ill.”

Restrictions on multigenerational housing

Some cities have introduced permits and zoning laws that make it harder for families to live in a multigenerational home. For example, some municipalities, like Raleigh, North Carolina, and Cherry Hill, New Jersey, have banned accessory dwelling units (ADUs), also known as granny flats, mother-in-law suites, and garage apartments, on properties. ADUs are small, self-contained residential structures that share a lot with an existing house and are often used as rental properties or private living spaces for family members.
But in Los Angeles, California, and Austin, Texas, ADUs have proven to be a popular means of expanding housing options, providing independent living quarters for aging family members, and granting property owners an additional source of income. 
California, home to some of the country’s most in-demand and expensive real estate markets, recently passed laws that would ease restrictions on building a second unit on a piece of land. According to the LA Times, “In Oakland, the planning department approved 266 so-called accessory dwelling units (ADUs) in 2017, up from 126 a year earlier. In Long Beach, 96 applications are pending and the city has approved 15 this year, compared with 21 approved in all of 2017 and none a year earlier. The largest growth is in Los Angeles, where 2,342 secondary units were permitted in 2017, up from 120 in 2016.” 
In Austin, Texas, the Alley Flat Initiative aims to increase the city’s affordable housing stock and make it easier for families to add new units to their property. The Initiative helps families plan, design, and build an additional flat on their properties to accommodate extended family members. Through this process, an adaptive and self-perpetuating delivery system is created that promotes efficient housing designs and innovative methods of financing and homeownership that benefit all neighborhoods in Austin.

How real estate is responding to multigenerational living

According to Jason Biddle, a Certified Aging in Place Specialist (CAPS), the growing trend of multigenerational living has changed the types of homes that single-family volume builders are developing. Not only are builders constructing homes with more square footage, they’re including a separate wing for extended family members. “Many national home builders have introduced new products marketed to multigenerational homebuyers with features like a first-floor master, larger square footage, and even a separate-but-connected apartment suite to help maintain privacy,” says Biddle. 
According to Weaver, most homes in Virginia are built with a basement and bath roughed in. “Builders understand that families are increasingly taking in older family members or expanding living space for themselves as they age and families grow. It’s almost unheard of in new developments to not have these features in the designs,” says Weaver. 

In an interview with the Wharton School at the University of Pennsylvania, James Timberlake, partner at award-winning architecture firm KieranTimberlake, says, “In urban situations, where space is more precious, decisions have to be made about the value of the lot, and what you can build, and how many units you can build in that particular area, and whether or not there’s a market for that kind of multigenerational experience. I think what you’re seeing is that developers see this niche, and it’s a niche that more and more people desire.”
Kealia Reynolds




Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com


Snoqualmie Pass Real Estate, Mortgage, and the Economy – U.S. housing costs spurring multigenerational households

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com



Multigenerational living, defined as a household that includes two or more adult generations, has become more common in recent years. According to the most recent Pew Research Center analysis of census data, a record 64 million people (20 percent of the U.S. population) lived in multigenerational homes in 2016—up from 60.6 million Americans (19 percent of the U.S. population) in 2014 and 51.5 million Americans (17 percent of the U.S. population) in 2009.

Why multigenerational living is on the rise

Shifting economic circumstances, an increase in cultural diversity, and evolving lifestyles of older Americans are just a few reasons why families are embracing this type of living arrangement, but perhaps the biggest reason that’s causing this shift is the lack of affordable housing and housing availability in this country.

The housing market

As we all know, the housing market is a giant migraine right now. In March, home prices rose 8.9 percent over the same time a year ago while housing inventory dropped 13.6 percent over the past year. Throw in the lack of new-construction homes and you have a buyer-crowded market where supply just isn’t meeting demand. Multigenerational living is a solution to this problem, providing a more affordable option for those who can’t buy a home in this current real estate climate. 
Kevin Mejia has lived in a multigenerational home his entire life. “My mom is a single mom and living with extended kin was the best from a financial perspective,” says Mejia. Though Mejia doesn’t get much privacy, a common drawback of multigenerational homes, he avoids paying exorbitant rental costs. In New York City, where Mejia lives, and other places around the country, rent prices continue to rise faster than wages, making it extremely difficult to live comfortably on your own. In fact, Mejia says that many of his friends still live with parents and grandparents for this very reason.

Cultural trends

Growing racial and ethnic diversity among the US population also helps explain why multigenerational living is on the rise, according to the Pew Research Center. Though multigenerational living is growing among nearly all US racial groups, Asian and Hispanic populations are growing more rapidly than the white population, and those groups are more likely than whites to live in multigenerational family households. From 2009–2016, 26 percent–29 percent of Asian populations and 23 percent–27 percent of Hispanic populations in the States lived in multigenerational households. Only 13–16% of whites lived in a multigenerational home from 2009–2016.

Social implications of multigenerational housing

Previously, the primary demographic living in multigenerational households were adults aged 85 and older, but in recent years, young adults have more and more opted for this living arrangement: As of 2016, 15 percent of 25- to 35-year-old Millennials were living in their parents’ home. This figure is five percentage points higher than the share of Generation Xers who lived in their parents’ home in 2000 when they were the same age (10 percent). 
This shift could be caused by the dramatic drop in young Americans who are choosing to settle down romantically before the age of 35. Or we can factor in the Great Recession that led to weak employment opportunities, high unemployment rates, and college enrollment expansion (that led to massive student loan debt) that pushed young adults to live with their parents during this period. The numbers show that even if Millennials are able to get out of their parents’ homes, student loan debt, low housing inventory, and housing costs that continue to double year over year are a barrier to homeownership.

Elderly assistance

Another reason why some families opt for multigenerational living is because aging family members require more care, and nursing homes are becoming more difficult to afford. In 2017, the median cost of a private nursing home room in the United States was $97,455 a year, up 5.5 percent from 2016, according to Genworth’s 2017 Cost of Care survey. Considering the medians savings account balance of Americans over 65 is just $10,000, it’s not surprising that families step in to help. To counteract these costs, families are buying homes with multiple living areas or remodeling their current homes to make space for their parents. 
“I think as home prices continue to skyrocket alongside healthcare costs, we will see more pre-planning along these lines as middle-aged people think about their next housing move,” says Misty Weaver, realtor at the Dream Weaver Team. “Even my clients that initially want to downsize end up in a home that can somehow accommodate older family members.” 
There’s also the issue of single parents working or dual parents working, which can be problematic when caring for kids and getting them to and from different activities. “With a multigenerational household, this stress is relieved and everyone can thrive,” says Lisa Cini, ASID, IIDA, who has more than 25 years of experience developing interiors that improve the quality of life for seniors, and who lives in a multigenerational home herself.

Companionship and family bonding

Another reason some families choose to live intergenerationally is for the companionship. Cini reflects on how her multigenerational home fosters companionship between her parents and children. “My parents say they love it because the kids have so much energy and are so fun, that they actually have more energy being around them!” says Cini. She recalls how her own children love the wisdom imparted from their grandparents and great-grandmother and love hearing them tell stories about when they grew up. 
“The kids also love being able to be the ‘tech experts,’ teaching [my parents] all about their smart phones, Facebook, Instagram and Snapchat,” says Cini. And the learning goes both ways. “There’s something special about having your grandmother teach you her recipes or take care of you when you are ill.”

Restrictions on multigenerational housing

Some cities have introduced permits and zoning laws that make it harder for families to live in a multigenerational home. For example, some municipalities, like Raleigh, North Carolina, and Cherry Hill, New Jersey, have banned accessory dwelling units (ADUs), also known as granny flats, mother-in-law suites, and garage apartments, on properties. ADUs are small, self-contained residential structures that share a lot with an existing house and are often used as rental properties or private living spaces for family members.
But in Los Angeles, California, and Austin, Texas, ADUs have proven to be a popular means of expanding housing options, providing independent living quarters for aging family members, and granting property owners an additional source of income. 
California, home to some of the country’s most in-demand and expensive real estate markets, recently passed laws that would ease restrictions on building a second unit on a piece of land. According to the LA Times, “In Oakland, the planning department approved 266 so-called accessory dwelling units (ADUs) in 2017, up from 126 a year earlier. In Long Beach, 96 applications are pending and the city has approved 15 this year, compared with 21 approved in all of 2017 and none a year earlier. The largest growth is in Los Angeles, where 2,342 secondary units were permitted in 2017, up from 120 in 2016.” 
In Austin, Texas, the Alley Flat Initiative aims to increase the city’s affordable housing stock and make it easier for families to add new units to their property. The Initiative helps families plan, design, and build an additional flat on their properties to accommodate extended family members. Through this process, an adaptive and self-perpetuating delivery system is created that promotes efficient housing designs and innovative methods of financing and homeownership that benefit all neighborhoods in Austin.

How real estate is responding to multigenerational living

According to Jason Biddle, a Certified Aging in Place Specialist (CAPS), the growing trend of multigenerational living has changed the types of homes that single-family volume builders are developing. Not only are builders constructing homes with more square footage, they’re including a separate wing for extended family members. “Many national home builders have introduced new products marketed to multigenerational homebuyers with features like a first-floor master, larger square footage, and even a separate-but-connected apartment suite to help maintain privacy,” says Biddle. 
According to Weaver, most homes in Virginia are built with a basement and bath roughed in. “Builders understand that families are increasingly taking in older family members or expanding living space for themselves as they age and families grow. It’s almost unheard of in new developments to not have these features in the designs,” says Weaver. 

In an interview with the Wharton School at the University of Pennsylvania, James Timberlake, partner at award-winning architecture firm KieranTimberlake, says, “In urban situations, where space is more precious, decisions have to be made about the value of the lot, and what you can build, and how many units you can build in that particular area, and whether or not there’s a market for that kind of multigenerational experience. I think what you’re seeing is that developers see this niche, and it’s a niche that more and more people desire.”
Kealia Reynolds




Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com