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NAIOPWA Endorses the Housing Supply and Affordability Act

We need housing near jobs, transit, and opportunity. The Housing Supply and Affordability Act (HSAA) creates a new Local Housing Policy Grant (LHPG) program administered by the U.S. Department of Housing and Urban Development (HUD). The proposed program would provide grants to states, localities, tribes, and regional municipal and county coalitions to support local efforts to expand housing supply.

The HSAA complements legislation such as the bipartisan Yes in My Backyard (YIMBY) Act, which encourages local governments to eliminate exclusionary zoning and discriminatory land-use policies by providing the resources and capacity to enable entities to enact said policies.

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Washington State Legislature 2021 Report – Week 10

The state legislative session heads into the home stretch this week, with just 33 days left in session, a Friday deadline for bill reporting and a draft budget expected from the senate this week. Click here to continue reading this post (login required).

NAIOPWA's state lobbyist, Greg Hanon, sends weekly reports for NAIOPWA members during the legislative session. These include a brief overview of session activity and highlights of the most pertinent issues for our industry. Additionally, Greg includes a complete list of bills and hearings that inform how we do business in Washington State. You'll see a link to download that list at the end of each short weekly update. Member login is required to view the full update. 

Energy Districts: Key to a Zero Carbon Future

With state and local energy codes marching unflinchingly towards a zero-carbon future, projects seeking to show deep sustainability commitments by going beyond energy code requirements are faced with fewer compelling design options. This may be especially true for large scale projects or multi-building developments, many of which have unique constraints on space and more limited system options. Efficiency focused electric district energy systems, or low-carbon energy districts, have been seeing more widespread adoption in the Pacific Northwest and can help fill this unique niche.

What are low-carbon energy districts?

 Image courtesy of McKinstry

Low-carbon energy districts are communities of buildings connected via common energy infrastructure and systems, designed and operated together with a common goal of reducing carbon emissions and utility energy usage. They include many or all of the following attributes:

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State Capital Gains Tax & CRE - WA Legislature 2021 Report – Week 8

On Saturday, March 6, the state Senate passed a bill that would create a new capital gains tax in Washington State affecting any assets sold in excess of $250,000. Although the bill excludes real estate, as written, it would still have significant impact on the CRE industry. 

Click here to read more about the Senate bill and how it defines real estate, and how you can take action today. (Login required; member-only content.)

NAIOPWA Member Profile | Bryce Taylor, GLY

Bryce Taylor has been a fixture of the NAIOP community for over 30 years. He got involved in the early ‘90s to jumpstart his career, at the behest of Ted Sive with Lease Crutcher Lewis. Bryce says he “joined NAIOP and immediately got involved with the Community Enhancement Committee – and never regretted it.” Throughout decades of uncertainty and change, Bryce has remained connected to his colleagues through our association. “I have developed hundreds of great relationships through NAIOP.”

We interviewed Bryce about his involvement with NAIOP, the arc of his career, and the impact he’s had on the industry and community.

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February 2021 Government Affairs Update + WA Legislature 2021 Report – Week 7

NAIOPWA Member McKenzie Darr of The Wolff Company has compiled a concise update of our chapter advocacy updates, including news and bills we're keeping our eye onFor more information about getting involved with NAIOPWA's government affairs efforts, click here.

State

The 2021 legislative session is underway. NAIOPWA is publishing exclusive weekly legislative updates online for chapter members. Select key pieces of legislation proposed this session are outlined below. 

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Washington State Legislature 2021 Report – Week 6

As reported last week, all bills that passed out of policy committees by the Feb. 15 deadline moved to fiscal committees, which have one week (deadline: Monday, Feb. 22) to consider the proposals before sending them to the Rules committee, where they can be considered for floor action. Budget-related bills are exempt from these cut off-dates and can be considered at any time. 

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Washington State Legislature 2021 Report – Week 5

After five weeks in session, all bills that passed out of policy committees by the Feb. 15 deadline move to fiscal committees. The fiscal committees now have until February 22 to consider the proposals before sending them to the Rules committee, where they can be considered for floor action. Budget-related bills are exempt from these cut off-dates and can be considered at any time. The week ended with a flurry of committee votes ... 

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WA Real Estate Development Added $8.9B to State Economy in 2020

Washington is the #9 state in the U.S. for contributions to state GDP created by office real estate development. Overall, construction and development of office, industrial, warehouse and retail created and supported 54,983 related jobs and contributing $8.9 billion to the state’s economy in 2020 (the most recent data available).

The data is from “Economic Impacts of Commercial Real Estate, 2021 U.S. Edition,” published annually by the NAIOP Research Foundation. 

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Washington State Legislature 2021 Report – Week 4

We're beginning the fifth week of the session, and bills must be passed out of policy committees in one week's time--Monday, Feb. 15, is the deadline.

The early action COVID relief package is expected to pass the Senate this week (HB 1368). Both chambers now have transportation packages in play and a capital gains bill has been introduced in the House. 

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Washington State Legislature 2021 Report – Week 3

NAIOPWA's state lobbyist, Greg Hanon, sends weekly reports for NAIOPWA members during the legislative session. These include a brief overview of session activity and highlights of the most pertinent issues for our industry. Additionally, Greg includes a complete list of bills and hearings that inform how we do business in Washington State. You'll see a link to download that list at the end of each short weekly update.

After three complete weeks in session, two weeks of policy hearings are next. Bills need to be passed out of policy committee by February 15.

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NAIOP Member Call to Action Regarding Rent Control

NAIOPWA is a member of the Partnership for Affordable Housing. We are committed to policies that increase housing creation, access, and affordability. Legislators are considering a rent control bill that would have grave consequences for housing creation and long-term access to affordable housing. SB 5139 would impose the strictest rent control in the nation.

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Washington State Legislature 2021 Report – Week 2

NAIOPWA's state lobbyist, Greg Hanon, sends weekly reports for NAIOPWA members during the legislative session. These include a brief overview of session activity and highlights of the most pertinent issues for our industry. Additionally, Greg includes a complete list of bills and hearings that inform how we do business in Washington State. You'll see a link to download that list at the end of each short weekly update.

The Washington State Legislature has completed its second week. Each chamber is drafting preliminary 2021-23 budgets, which are likely to be released shortly after the March revenue forecast.

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Washington State Legislature 2021 Report – Week 1

NAIOPWA's state lobbyist, Greg Hanon, brings years of experience to his role supporting commercial real estate and the business environment in our region. While his work goes well beyond legislative session coverage and seasonal advocacy efforts, January through March (and sometimes longer) is a fast-moving period where experience and energy make a big impact. Each week, Greg sends reports for NAIOPWA members through our Government Affairs committee, which are posted in our app and online in this members-only blog space. The reports include a brief overview of session activity and highlights of the most pertinent issues for our industry. Additionally, Greg includes a complete list of bills and hearings that inform how we do business in Washington State. You'll see a link to download that list at the end of each short weekly update.

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Member Advocacy Update: What's Ahead in 2021 for Cities & WA State

What's ahead for commercial real estate in 2021? Seattle will have another wide-open mayoral election, Olympia will battle huge shifts in revenues related to COVID-19, NAIOPWA's seeing movement on initiatives on the Eastside, and much more is on the table. Click here to continue reading this post (login required). 

NAIOPWA Member Profile: Ann Bishop, Wallace Properties


Ann Bishop has been with Wallace Properties for nearly 25 years and a NAIOP member for just as long. Her impressive tenure in commercial real estate makes her an expert voice on industry topics and trends, and her passion for NAIOP is clear from her continued involvement at all levels of our organization. Bishop serves on our chapter’s Board of Directors as Secretary, works with the Government Affairs committee on numerous legislative and policy efforts, and regularly volunteers with the Developing Leaders’ Mentorship Program each year.

When she joined over 20 years ago, she felt that NAIOP was an inclusive space for her, but with few contacts in the organization it was important to lean in early to carve out a place for herself. “If I [had] sat back and waited to be invited… I wouldn’t [have been] there. So you just pick up and go… You join in.”

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NAIOPWA Real Estate Challenge Announces Alexandria as 2021 Site Sponsor

NAIOPWA’s Real Estate Challenge Committee is proud to announce the 2021 Site Sponsor, Alexandria Real Estate Equities, Inc! The Real Estate Challenge is a development case competition in which students at three regional universities take on the role of developer. Each year, students focus on a different site and craft creative, innovative development proposals. Teams present their proposals to a panel of notable developers and investors, who adjudicate the winner of the Challenge and recipient of the coveted Bob Filley Cup.

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Industry Update: Exponential COVID-19 Case Growth Necessitates Stringent Protocol Adherence

 

Yesterday’s press conference with Governor Jay Inslee, medical professionals, and other leaders from our region brought a message none of us wanted to hear, and that we can’t afford to ignore: COVID cases are on an exponential increase curve. November 15 was the most dangerous public health day in over 100 years in our state, according to the governor, with no signs of today being any better. In Seattle, 20% of all COVID cases have occurred in the past 2 weeks, said Mayor Jenny Durkan. And the numbers aren’t better elsewhere in the state or across the country.

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Congratulations 2020 Night of the Stars Winners and Finalists!

Honoring Excellence: NAIOPWA’s Night of the Stars 2020 

Honorees showcase the best regional commercial real estate development in 2020 with an emphasis on creative multifamily mixed-use, sustainability and last-mile delivery 

SEATTLE – At today’s first-ever virtual NAIOPWA Night of the Stars, the commercial real estate community honored the year’s most innovative, creative and inspiring CRE projects in Washington state. Completed between July 1, 2019, and August 1, 2020, these projects particularly demonstrate the flexibility and strength of the local CRE industry in the face of a global pandemic. 

The 2020 winners and finalists reflect major shifts in our region toward affordable, multifamily housing that creatively supports communities, as well as the rapid increase in industrial real estate supporting last-mile delivery. This year, as always, judges used a rubric to evaluate and score projects according to defined criteria and made category adjustments reflecting the unique nature of projects, such as dividing industrial projects into those built on spec and those built to suit. This year, too, the full immersion of sustainable practices in the region’s development projects lead to multiple honorees in different market categories. 

NAIOPWA's Night of the Stars identifies outstanding real estate developments and activities in a variety of market types and the individuals who made the projects happen. The awards aim to honor the teams who build our landscape in this annual celebration of the industry. Each finalist project was evaluated for impact on the community, market adaptability, ingenuity and local contributions. 



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NAIOP Washington Introduces Sustainability Award at Night of the Stars 2020

What does it mean to go first? In celebration of NAIOPWA’s Night of the Stars inaugural “Sustainable Development of the Year” category, here is a closer look at the two nominees, each of whom elected to be on the front edge of sustainable real estate development. Read below to learn more about these two industry-leading endeavors.

What is the first thing many developers or investors think when they hear the words “sustainable” or “green” as their architects describe their building design? For decades the common perception has been that it is difficult (if not impossible) to make a deeply green building pencil financially. However, by definition “sustainability” is the nexus of environmental, social and economic progress. We interviewed key participants representing both Watershed and Inspire at the Russell W. Young Building to learn how they overcame perception to create these very special properties.

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