It has been incredibly inspiring to see the advancements in sustainable construction and living we have made in the industry over recent years, particularly in Seattle. Developers are not just looking for ways to build green, but they are also focused on marrying that with innovation, style, and increased comfort and convenience—proving that there is no reason why we shouldn’t all be prioritizing going green.

I’m pleased to announce that the Forecast Report now features a companion podcast series “Market Perspectives” hosted by Dean Jones as he interviews industry experts. I was honored to be featured as the series’ very first guest, kicking off episode one with a chat about everything from House Bill 1110 to new developments in the greater Seattle area.

Towering above Seattle like an elegant but forceful wave is Skyglass Apartments, a 31-story new construction project of apartment units in the South Lake Union neighborhood. Skyglass is a masterful example of what happens when innovation meets artistry. Referred to as the “cloud tower,” Skyglass is design firm Hewitt’s latest project in the city.

Realogics Sotheby’s International Realty featured an incredibly informative piece from Movement Mortgage about sellers who list their home for sale “as-is” and how buyers can receive a loan that’s actually based on the home’s future condition, instead of its current condition. For buyers, these loans allow more purchasing options and the opportunity to take a home that requires some significant updates to transform it into their dream home. Lenders, like Movement Mortgage, who offer renovation loans will appraise the home’s hypothetical, future condition, accounting for its upgraded features and state with your renovation plans in mind.

As you brush up on the latest real estate news, you’re likely to encounter some headlines about revisions to Washington state’s RCW 18.86, or the Agency Law, which covers brokerage service agreements, dual agency term changes, duties brokers owe, and more. It was signed into law on May 4, 2023, but went into effect on January 1, 2024, which is why you’ve probably seen mention of it recently. As the first state to enact this type of legislation, it will be interesting to see the effects of it on our local real estate market, particularly because this is the first time the law has been updated since it was enacted in 1997.

As we explore more sustainable ways to live to reduce our carbon footprint and the harm we cause the environment, the home is a wonderful place to start. Certain measures, like installing smart-home tech or EV charging, are one-time additions that then seamlessly incorporate into your every day, meaning that by just existing, you’re doing your part in practicing greener living. In this blog, we’re exploring the benefits of installing solar panels on your home, leading to lower electricity usage and bills, reducing greenhouse gas emissions, and more.

The strides that have been made in the automotive industry in the 21st century in regard to electric vehicles are truly remarkable. From 1997, when the first hybrid vehicle was mass-produced by Toyota, the world has become increasingly more aware of the positive effects of transitioning from gasoline-powered vehicles to electric-powered vehicles. As time goes on, these cars of the future become more accessible, allowing consumers to purchase them for prices that are more in line with the rest of the industry. In this month’s blog, we’re diving into the benefits of the growth of the EV industry, from environmental impacts to costs to the consumer.

For developers looking to get their project off the ground, one of the first steps is figuring out just where they will literally get their project off the ground. Land acquisition is more complicated than finding an empty lot and deciding to build there as land can be acquired in a multitude of ways, from purchasing it directly from the current landowners to entering into an option contract (where a developer can have a hold, of sorts, on the land without immediately paying the full price). In this blog, we’ll cover some of the basics of land acquisition and helpful information to keep in mind when undergoing the complex—but exciting—endeavor.

During this holiday season, I’m hoping that we can all extend the thoughtfulness that we engage when purchasing gifts for loved ones to how we treat our planet and find creative ways—both big and small—to mitigate some of the damage done during this time of year and prove that you can have a jolly holiday that is also eco-friendly.

Seattle, affectionately known as the “Emerald City” for its lush, green forests that offer year-round beauty to the city and surrounding areas, is green in more ways than one. The city is dedicated to prioritizing sustainability with clear goals that push builders, residents, and leaders to consistently innovate as they aim to build a better future with a greener present. With goals to reduce energy use in residences by 20 percent by 2030, increase solar capacity, and acquire electricity from renewable resources, like wind and solar power, Seattle is at the forefront when it comes to sustainability within urban spaces.

During a year where the real estate market weathered challenges caused by high-interest rates, inflation, and international events affecting the US and the world, we’ve seen a market that has been affected but not devastated. Although the market has not returned to the bidding wars and intense buyer activity of 2021, it’s managed to come through many obstacles, proving that the Puget Sound region remains one of the most desirable areas of the country to purchase property.

From chic patio spaces to serene pools, building rooftops serve as an extension of commercial and residential spaces and utilize a space sometimes ignored. But what if there was a way to transform a roof into something more than just an extra level to play and soak in views? That’s where “green roofs” come in and present a new way to upgrade rooftops so that they’re sustainable, functional, and beautiful—a lush oasis atop an urban structure, seeming to perfectly personify the future of responsible, mindful development within cities.

As the need to switch to more sustainable practices becomes more and more immediate, many people have realized that the function of new buildings, homes, and infrastructure around us is matched in importance by the structure of those new builds–more specifically, what they’re constructed from. Read on for some of the top sustainable building materials that developers are using today to ensure we have a better tomorrow.

Many builders are constructing new single-family and multifamily residences with an eco-friendly approach, utilizing our greater understanding of the importance of sustainable day-to-day living and the ways in which developing homes with greener practices makes a major difference in our effect on the climate both today and tomorrow. However, for those with homes that were not built recently, and therefore likely weren’t constructed with the same level of attention to sustainability as newer homes tend to be, a green upgrade may be necessary. Luckily, there are plenty of ways you can transform your home in the pursuit of better energy efficiency, ranging from the simple to the more involved.

Earlier this year, Governor Jay Inslee signed House Bill 1110, marking an important step towards increased availability of more affordable housing in the state. House Bill 1110, also referred to as the “Middle Housing Bill,” aims to increase more multifamily developments on areas of land previously exclusively zoned for single-family residential usage. The bill’s major aim is to increase housing inventory—and more specifically, affordable housing—which remains one of Seattle’s biggest current problems.

As global leaders and organizations around the world focus more on climate change, the urgency to reduce carbon emissions and foster sustainable environments has significantly risen. Commercial real estate stands as a substantial contributor to carbon emissions, accounting for 37% of global carbon emissions and demanding 34% of the energy use worldwide.

The luxury real estate sector has long been at the forefront of integrating sustainable solutions into modern architecture, creating paradigms that resonate across various market segments. Historically, it has championed unique and progressive design technologies that eventually become more accessible and cost-effective for a broader audience.

Sugarcane has long been a staple in the world of agriculture, producing not just sweeteners for our morning coffee but also a significant amount of waste. Each year, about two billion tons of sugarcane are produced worldwide, resulting in approximately 600 million tons of bagasse fiber waste. Historically, such agricultural by-products have often found their way into compost piles or were repurposed for animal feed. However, the tide is turning, thanks to innovative minds at the University of East London (UEL).

Sustainability is not just a buzzword; it's the linchpin reshaping industries, and real estate is no exception. With the U.S. taking determined strides towards a sustainable future, real estate professionals, particularly in Washington State, should understand the evolving landscape.

This year’s New Development Yacht Party is going down in history as a night to remember! The exclusive gathering was more than just a party on a yacht. It was a symphony of interactions, a melting pot of brilliant ideas, and a testimony to the power of connection!