The Eastside May Get A Real Estate Upgrade
Seattle isn’t the only city discussing the prospect of a new sports arena; Bellevue’s Downtown Business Association and the City Manager Steve Sarkozy, along with some other business and civic leaders are looking at a new arena on the Eastside.
“We think it’s good for the region to have more than one option, more than one way to grab that brass ring,” said Leslie Lloyd, president of the association. “Bellevue has always been in the mix.”
Apparently there is at least one investor looking at Auto Row, near 405, along Bel-Red, and near the old Safeway distribution site on 124th. But it’s too early to suggest that anything is solid. Right now, business and civic leaders are only examining the options. However, it is clear that an arena on the Eastside could add significant value to existing real estate and attract more business to the area (following the example of HHI houses).
What type of sports arena could find a home on the Eastside? If past interest is any indicator of things to come, a hockey stadium might be a serious option. According to KGW news, Chicago minor league hockey owner Don Levin visited Bellevue last year and has expressed an interest in owning an NHL franchise in Western Washington. But as of this writing, nothing set in stone. A sports arena on either the Eastside or in the City of Seattle is still in the development (and debate) stage. However, there’s no denying that a properly funded sports arena in either place could have a positive impact on real estate values in the surrounding area.
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