Chamber Hosts Packed House for 2022 Eastside Real Estate Symposium
This morning, the Bellevue Chamber kicked off its second annual Eastside Real Estate Symposium, boasting an in-person crowd of more than 200 attendees at the Hyatt Regency Bellevue. The event brought together top investors, brokers, developers, and housing advocates for networking and a presentation of key insights into residential and commercial growth in Bellevue and beyond. Another 95 attendees joined virtually online.
Longtime Bellevue City Councilmember Conrad Lee opened the event, followed by a fireside chat with Kristin Jensen, Managing Director of Gensler Seattle; Steve Kramer, Principal of KGIP; and Andrew Coates of KGIP for a discussion on their ambitious plan for the Wilburton community.
Next, the Bellevue Chamber’s Permitting, Land Use, Sustainability, and Housing (PLUSH) Committee Chair Jessie Clawson of McCullough Hill Leary introduced a panel of local housing and development experts for a discussion of plans and policies for affordable and workforce housing on the Eastside. Panelists included Patience Malaba of HDC, Tom Parsons of Holland Partner Group, and Jeremiah Jolicoeur of Alliance Residential. Panelists examined issues including the lingering impacts of the pandemic, prevailing return-to-office strategies, and housing-to-job imbalances. Panelists spoke of the importance of intersecting housing, light rail, and other mass transit on the eastside to meet the needs of the more than 30,000 new hires coming to the area in the next few years.
Finally, the event featured a keynote address from Jon Woloshin, head of U.S. real estate for UBS Global Wealth Management’s Chief Investment Office. Woloshin’s presentation took a nationwide look at housing supply and real estate trends, including inflation, interest rates, and other key topics. Woloshin examined the impact different regulatory and tax burdens have on the overall economy of various states, comparing states like California and New York to Washington state. On national affordability, Woloshin found that home price growth is far exceeding income growth, a trend that he says is “unsustainable long-term.”
The event was made possible by Corporate Sponsor Talon Private Capital and supporting sponsors Rowley Properties, LinkMe, and Seattle King County Realtors.
For the slideshow presentation from the event click here: https://bellevuechamber.org/wp-content/uploads/2022-ERES-Keynote-Slides.pdf
For more details, visit https://bellevuechamber.org/events/eastside-real-estate-symposium.