Waterfront Sizzle

Don't look now, but design for the new Seattle Waterfront is 30% done—and the first elements of the new public promenade along Elliott Bay will be finished in September. That's why we're thrilled to welcome City of Seattle planning director Marshall Foster, and many more experts, to our Future of the Waterfront event on June 17 at the Four Seasons Seattle. Sign up here.

The Seawall is also under construction, according to Marshall (here at a previous Bisnow event with A-P Hurd). Work on the Seawall will be continuing in the area south of Colman Dock through the summer to install landside foundation elements to support the new seawall structure.

Specifics about how the street will work, parking and access, and plans for new parks and public spaces are coming together. “Over the next year we'll be finalizing the design and updating our budget and funding plan,” Marshall says. Also on our panel: Hudson Pacific Properties' Drew Gordon, Friends of Waterfront Seattle Heidi Hughes, Callison's Michael Lee, Miller Hull's David Miller, and Urban Visions' Greg Smith. Schwabe Williamson & Wyatt's Larry Costich and Cairncross & Hemplemann's Matt Hanna will moderate.

Also on hand will be Pike Place Market Preservation and Development Authority executive director Ben Franz-Knight. Earlier this spring, Pike Place unveiled the latest designs for the waterfront entrance on Western Avenue, which is now a parking lot. The design, done by the Miller Hull Partnership, will include 15k SF of retail, a public plaza and viewing deck from the Desimone Bridge, 40 seniors housing units, and a lot of public art. And, of course, another pig. Come to our event to hear about the pig first-hand.

Mortenson at 60

At Mortenson Construction's 60th anniversary last week, we found VP and director of operations Michael Harder, director of quality Mark Drzwiecki, VP and general manager John Nowoj, and SVP Jim Yowan. Michael tells us the momentum of the Seattle economy is providing new opportunities for real estate; within the construction industry in particular, he expects to see more activity over the next 12 months.

As a result, Michael also predicts that various resources (materials, labor) will become scarcer, driving up construction costs. Kirkland-based Mortenson is international, but well at home in greater Seattle. Among its local projects: the Elliot Bay Seawall, Hill 7, and the Chamber Creek Waste Water Treatment Plant expansion. (And all the employees get together to sometimes to practice live-action Find Waldo.)

Go-Go Days for Finance

Seattle real estate lending is hitting new heights, Berkadia SVP Louis Weisman tells us. In fact, we have one of the top equity and debt markets in the country, due to increasing net job growth and demand for all types of commercial real estate, he says. New office projects in the Seattle and Bellevue CBDs are fueling new multifamily development and value-add opportunities among older multifamily assets. Recently Louis, along with colleague Tim Ufkes, arranged nearly $15M in bridge financing for 954 E Union St, a mixed-use property in Capitol Hill with 79 residential units, which will be open this fall.

Learn the ABCs of CRE

Bisnow Education offers commercial real estate training videos for your staff, your class, or yourself. Hosted by the founding chairman of the Wharton School of Real Estate, Peter Linneman, the informal, informative videos cover complicated ground like finance and development in easy-to-understand explanations (watch a sample). Even if you're a world-weary real estate vet or investor, you'll find new angles that will invigorate your passion; newbies will be able to digest the info in bite-sized, five-minute increments that can be watched anytime. They're digital friendly too: Watch or listen on your smart phone whenever/wherever. They're great for teaching and understanding financial models and industry lingo, and they'll be a tremendous asset to your corporate training program. Group rates available. Find out more about our premiere videos (with more to come) here or reach out to Bisnow's Will Friend, will@bisnow.com.