With all the hoopla over Amazon's choice of New York City and Arlington, Va. for its HQ2 X 2, what about HQ1? The Seattle Times says not to fret over the fate of the company's home base, and the Seattle housing market. Here's BUILDER's story on its effect on New York and Virginia.
Priced-out Seattleites hoping for a housing market crash with Amazon expanding to two new “headquarters” locations might be disappointed.
Consider:
• Amazon already plans, essentially, to add another HQ2 here, as well: The company said it expects to add about 4 million square feet of office to both Long Island City, New York and Crystal City, Virginia, the HQ2 picks it announced Tuesday morning. But based on plans already underway, Amazon already is committed to adding another 4 million in Seattle over the next several years — plus more in Bellevue.
• Amazon has 8,200 full-time jobs open in Seattle right now. For perspective, last month about 3,200 unemployed people in King County began actively searching for jobs.
• Some Amazon workers here have been sitting out of the housing market recently to see where HQ2 lands, for good reason: In about two-thirds of the 20 finalist cities, you could get a mansion for the cost of a Ballard bungalow, or a starter house for the price of a little Kirkland condo. But Amazon ultimately chose the New York and Washington, D.C. areas, two of the most expensive places in the country, with no cost savings compared to Seattle.
