Sound Transit OKs Plan to Speed Up, Increase $54 Billion Expansion Package

Puget Sound Business Journal | Marc Stiles | June 2

“A Thursday vote by the Sound Transit Board shows that the squeaky wheel does get the grease. Board members unanimously approved changes to the Sound Transit 3 plan to speed up light rail extensions by two-to-five years, and add projects in Renton, Kirkland and North Seattle. This will cost an additional $4 billion, boosting the overall ballot measure to $54 billion, though the agency said this won’t dramatically increase how much the average taxpayer will pay. The board is expected to finalize the ST3 plan June 23.” Read more.

Real Estate Development Brings Big Change to Seattle’s Little Saigon

Puget Sound Business Journal | Marc Stiles | May 31

“A rich history has played out across Seattle’s Chinatown-International District, including on a large parcel in Little Saigon. Members of the family that owns this 2.5-acre property, where the Viet-Wah Supermarket and other small businesses operate on South Jackson Street, are planning to write the property’s next chapter with a major twist. They’re redesigning the low-slug retail center to become an eight-story project that will have 240 apartments, 35 condos, a hotel, shops and restaurants, and a community theater.” Read more.

First NewSpace Conference in Seattle Blasts Off in June with Industry Leaders

Puget Sound Business Journal | Steve Wilhelm | May 31

“Heavyweights from the nation’s fast-growing outer space industry are coming to Seattle for the launch of the first NewSpace conference here. The three-day event will be held June 21-23 at the Motif Seattle hotel. The conference, which attracts up to 500 industry leaders and high-level presenters, is produced by the Space Frontier Foundation. This will be the first time, after nine years of annual gatherings, that it will be held outside California’s Silicon Valley.” Read more.

Home Prices Climbed 5.2% in March, Says S&P/Case-Shiller

Forbes | Lauren Gensler | May 31

“Home prices continued their steady ascent in March, according to data released Tuesday by S&P/Case-Shiller. On a national basis, single-family home prices rose 5.2%, according to the S&P/Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions…The price appreciation has been particularly rapid out West and the cities with the highest year-over-year gains were Portland (12.3%), Seattle (10.8%) and Denver (10%). “The economy is supporting the price increases with improving labor markets, falling unemployment rates and extremely low mortgage rates,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.” Read more.

Ballard Pushing for Light-Rail Tunnel – Even Though Drawbridge Appears Headed for Ballot

Seattle Times | Mike Lindblom | May 31

“A coalition of residents and some politicians have been pushing for a light-rail tunnel under Salmon Bay — at a cost of $450 million — and may continue to do so, even though the Sound Transit 3 ballot measure this fall is expected to instead offer a less-expensive drawbridge. But transit-board Chairman Dow Constantine is leaving the tunnel as a possibility to be explored after the election. “There’s still the environmental study, the consideration of various alternatives, the conversation with the community about the exact way in which the line’s going to be built in Ballard,” said Constantine, who is also King County executive. “In fact, if over time we’re able to reduce the cost of tunneling, that could be an alternative to be considered, along with the elevated line.” Read more.