Latest Washington Real-Estate Gold Rush: Farms

Seattle Times | Mike Rosenberg | July 20

“You know about home prices and rents soaring across the Puget Sound region and Washington — but you might be surprised at the latest type of property to get swept up in the state’s real-estate wave: farms. The average sale price of high-quality Washington farmland has increased 25 percent in the last year, and is up 47 percent in the last four years, according to new data from Farmers National Company. The current average price of $12,500 per acre is the highest among 18 states tracked in the report, mostly in a central swath from Minnesota to Texas, up from fourth-highest a year ago. Washington was the only state surveyed to see prices rise in the past year.” Read more.

Turn Viaduct into a Waterfront Park? Seattle Voters to Decide

Seattle Times | Patricia Madej | July 19

“Voters have two weeks to decide whether to completely change the city’s plan for transforming Seattle’s downtown waterfront. Initiative 123 would create a public development authority to plan a one-mile elevated park — or “garden bridge” — incorporating a small, restored portion of the Alaskan Way Viaduct. Former mayoral candidate Kate Martin has led the effort for an elevated park for years and helped gather more than 30,000 signatures to get it on the Aug. 2 ballot. If voters approve, it would effectively kill the city’s waterfront plan that’s been almost a decade in the making and would give access to city funds for the elevated park.” Read more.

With New Stations, Light Rail Ridership Soars in Seattle

Puget Sound Business Journal | Marc Stiles | July 19

“The number of light rail passengers has increased dramatically since March, when trains started serving the region’s densely populated Capitol Hill neighborhood and the University of Washington. In May, there were more than 1.77 million total light rail boardings, compared to around 971,750 in May 2015, according to data that Sound Transit released Monday. The increase equals nearly 83 percent. The year-to-date increase was nearly 51 percent.” Read more.

Seattle-Area 8th Graders Give U.S. Another Victory in International Rocketry Challenge in London

GeekWire | Kurt Schlosser | July 18

“A team of eighth graders from Odle Middle School in Bellevue, Wash., captured first place at the International Rocketry Challenge at the 2016 Farnborough International Airshow on July 15. Nicknamed the Space Potatoes, the five kids bested teams from the United Kingdom, France and Japan. It’s the second straight year the U.S. has won the competition. In May, Odle captured the top prize at the 2016 Team America Rocketry Challenge (TARC) National Finals by beating out 789 teams.” Read more.

Should You Invest in Seattle Real Estate?

Forbes | Ingo Winzer | July 18

“Stuck at the edge of America, with rain and clouds more than half the year, Seattle has managed over the decades to produce what the rest of America wants: first lumber and ships, then airplanes, then software, now e-commerce and trade with China. Without a hinterland to service, however, the Seattle economy depends a lot on demand that happens elsewhere, making it vulnerable to consumer cycles, tech cycles, and international trade politics. Over the last ten years, growth has been strongest in Seattle itself, driven by new jobs the technology industry that now rivals Boeing in economic size, while manufacturing jobs have been flat…The increase in high-paying tech jobs has driven up the value of real estate, especially because there isn’t much land available for new construction in Seattle.” Read more.