Thursday, March 31, 2011

Medina Makes "Most Expensive" List

Bloomberg Business Week recently published an article on the most expensive neighborhoods in the nation, and one Bellevue community made the list-Medina. More specifically, the list pinpoints the most expensive blocks, identifying the area from 84th Avenue to the waterfront at Lake Washington. These homes have a median value of $1,452,523 and the Lake Washington waterfront homes average a price point of about $3,000,000. The article features data from Neighborhood Scout Reports website, which regularly reports the data taken from neighborhoods across the U.S. Bellevue luxury real estate can also be found in nearby communities Yarrow Point and Hunts Point. Follow the link to search for Bellevue luxury homes for sale.

Monday, March 28, 2011

Point Wells Development Faces Opposition

Last year, the Alon Group planned to build a new urban community at Point Wells in Snohomish County, just north of Shoreline. Point Wells has long been a storage tank site and transfer facility for petroleum, but was purchased by the Alan Group in 2005. In 2010, the group proposed transforming the Point Wells site into a new, self-sustaining community. Now, the Alon Group is facing a lot of opposition from the surrounding residents who are unhappy with the plans to create new residential streets and high-rise buildings near to their currently ‘quiet’ communities. Shraga Biran, founder of Alon Group, believes the site has too much potential as a waterfront community to leave it alone. The project has a big price tag, with over $30 million dedicated to environmental clean-up. The total costs are even higher, with a planned 3,000 condominiums and 100,000 sf of retail. Early this month, the project application will be assessed for environmental impacts, a process that could take 2 years. For more information on the Point Wells project, please visit their official website.