gregory johnson: the spring district
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D e c e m b e r 2 0 1 3w w w. t h e s p r i n g d i s t r i c t . c o m
Seattle
Bellevue
SR-520
Mercer Island
Seattle
Bellevue
SR-520
Mercer Island
Seattle
Bellevue
OFFICE 3,715,000 sf
RESIDENTIAL 1,222,000 sf
HOTEL 199,000 sf
RETAIL 158,000 sf
TOTAL 5,294,000 sf
ENTITLED MASTER PLAN
STRONG HOUSING DEMAND• Shrinking apartment vacancy rate with continued strong
demand• Region predicted to add 135,000 new residents in next 3
years
STRONG COMMERCIAL DEMAND• 27 million sf owned or leased by tech companies• Strong growth predicted +2.7 million sf “in the market”
now
TECHNOLOGY LEADERSHIP• UW, Microsoft, Amazon, Expedia and many, many others• Strong entrepreneurial culture
PUBLIC INVESTMENTS• $2.8 billion new light rail extension to Eastside• $4.65 billion new 520 bridge to Eastside
REGIONAL OPPORTUNITY
TOP RATED SCHOOL SYSTEM• Bellevue International High School is #1 in state, #7 in
nation• Top rated district in state
HIGH INCOME• Median income $81,000
CULTURAL DIVERSITY• 41% foreign born - one of the most diverse cities in the U.S.• Chinese and Indian nationals dominate software developer
workforce in region• +15,000 H1B visa and full time foreign workers/year• Demand for new civic spaces to congregate, share
BELLEVUE OPPORTUNITY
DEMAND FOR URBAN OPTIONS• High density, diverse urban environment versus suburban
campus, big box or low rise designs
SUBURBAN CAMPUS ISOLATION• “At Nintendo we felt like we were trapped.”
….Former Nintendo sr. exec now at Amazon• New Amazon recruits refer to preference for urban campus as
“South Lake Union envy”
RECRUIT AND RETAIN EMPLOYEES• Concur Technologies moved from suburbs to Bellevue in 2013• Significantly higher cost per sf• Stated reason: Urban location meant better recruiting,
retention
URBAN VS SUBURBAN
CONVERGING TRENDS
DEMAND FORURBAN REAL
ESTATE
DEMAND FOR HUMAN
RESOURCES
• MSFT, AMZN, TMO, Expedia hire thousands per month
• High cost to recruit talent
• Top recruiting/retention predictors– Short commute– Amenities– Urban environments
• Region: 27 million sf owned or leased by tech firms
• Strong demand by tech firms
• Region adding 135,000 new residents thru 2015
• Preference for urban environments w/ suburban access
RESEARCH• Wright Runstad and Shorenstein visited dozens of high
density and transit oriented developments in the US– San Francisco: Mission Bay, Merchandise Mart: Twitter– Portland: Pearl District– Denver: Lower Downtown District
CENTURIES OLD DESIGN PRINCIPLES• Human scale, parks and squares, restaurants and retail• Pedestrian and bike friendly• Connected to transportation networks
MODELS FOR SUCCESS
ARCHITECTURE TO RECRUIT, RETAIN• “The person we hire today needs a totally different office
experience than the person we hired 5 years ago,” Sr. exec Expedia
NEW DESIGN PRIORITIES• Larger floor plates - 30,000 sf +• Open floor plan, line of sight to anyone, serendipitous
interactions• Higher ceilings for larger windows, indirect light• Spaces to mingle as well as meet• Showers, lockers, bikes, dogs• Walking distance to “everything”
NEW OFFICE REQUIREMENTS
LARGEST SINGLE TOD IN WESTERN US• 5.3 million sf of office, multifamily housing, hotel and retail• 16 city blocks with Light rail station• $2.3 billion total investment• 15 year development plan
SUSTAINABLE• Density around transit• Designed to LEED standards
21st CENTURY PROJECT• Urban style housing, neighborhood retail, office and hotel
mixed use• Embraces diversity• Compliments other Bellevue neighborhoods
NEW URBAN NEIGHBORHOOD
NEW OFFICE DESIGNS
Office - Block 16324,506 sf
Office - Block 24166,614 sf
MULTIFAMILY HOUSING - 320 UNITS
INTERNET STARTUP• “The Spring District is very appealing. Our number one
driver in selecting our new office is to recruit and retain employees,” Founder and CEO, Internet start up
ESTABLISHED SOFTWARE COMPANY• “We need great offices to compete with growth-oriented
startups for employees…..” • “…..Our stock, compensation and teams are fixed, but our
work environment can be a competitive advantage.” Software Marketing Executive
FEEDBACK
MORE THAN BUILDINGS
CREATING A PLACE
TIME TESTED PRINCIPLES
MIXED USE
PEDESTRIAN
DIVERSE
AUTHENTIC
A FOCUS ON SUSTAINABILITY
DENSITY
LEED-ND
MOBILITY CHOICES
A CRITICAL MASS OF PEOPLE
WORKING
LIVING
DINING
CONNECTED
RETAIL
RECREATION
THE HUMAN STORY
TIMELINE2013• Demolition and construction underway
2014• Infrastructure for Phase 1 complete• Apartment construction begins• Office construction begins
2015• First neighborhood elements open
2016• Occupancy of housing and offices• Additional development begins
2017• Light Rail construction begins
HERE COMESTHE NEIGHBORHOOD
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