Eastside Update: Bellevue’s Median Home Prices Rise as Microsoft Announces Redmond Campus Expansion

The Eastside has made numerous headlines in recent weeks, from median home prices that continue to skyrocket, to Microsoft’s major announcement of an expansion and renovation at its Redmond campus.

As a Bellevue Reporter article outlines, the region has seen its typical autumn/winter slowdown, as the number of homes on the market continues to decrease, yet buyers are flocking to the region, as the median sales price for a Bellevue residence in November jumped to $859,000, up nearly 5-percent compared to last month and 22-percent compared to last year. The area has long been an attractive alternative to the hustle and bustle of Seattle living, for its fusion of urban and suburban offerings and close proximity to the city. Already regarded for its top-rated schools and strong community events, Bellevue continues to garner attention as the Eastside tech corridor grows.

The latest tech news surrounds longtime area giant Microsoft, which announced in early December that they will expand and overhaul their twenty-year-old Redmond campus. According to Bellevue Reporter, changes will include 18 new buildings, 4.2 million square feet of renovated and 2.5 million square feet of new workspace, and “$150 million in transportation and infrastructure improvements, new sports fields, public spaces and green spaces.”

When all is said and done, the campus will house nearly 50,000 employees with space to accommodate an additional 8,000. The design will both attract top-level employees and serve the community, as Microsoft and the city of Redmond have maintained a productive and amicable relationship over the years.

The project is set to break ground in the third quarter of 2018 with a 5-to-7-year time frame for completion. This means the new campus will be finished on a similar timeline to that of the East Link light rail stations, which are set to open in 2023 and 2024.

More on how the tech industry is shaping the Eastside and the city of Bellevue here.

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