In January, Bellevue, Wash. home prices cooled 6.2 percent annually. But new expansion plans from Amazon could reignite the suburb's market.
The tech giant recently abandoned its plans to take up residence in a downtown Seattle skyscraper, prompting speculation that Amazon will continue to grow in its original hometown and on the Eastside suburbs over the course of the next few years. Bellevue is already home to many tech employees, due to its close proximity to both Seattle and Redmond, home to Microsoft's headquarters. Local Redfin agents report that Amazon's "growing footprint," along with new Facebook offices coming online, will bring Millennial homebuyers knocking.
Amazon has already leased enough space in Bellevue to house nearly 7,000 employees and there’s speculation that it’s in talks to lease space that could fit more than 25,000 workers when all is said and done. Facebook has signed leases for a total of nearly 700,000 square feet in Bellevue and 650,000 square feet in Redmond, which together could hold thousands of employees.
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