NAIOPWA Legislative Session Report - Week 1

Krystelle Purkey and Ehren Flygare, State Lobbyists

The Washington State Legislature started off with a bang this session. On Day 1 the rent cap bill was up for a public hearing in the House of Representatives Housing Committee. Over 700 people signed in to testify on the bill. Ultimately, the House kept the hearing to less than an hour and wrapped before panels were completed. The House Bill, HB 1217, will be voted out of the House Housing Committee on Monday.

The Senate Bill, SB 5222, sponsored by Senator Trudeau, will be heard in the Senate Housing Committee on Wednesday, January 22, at 1:30 p.m. The second sponsor on the bill is now-Senator Mike Chapman, who voted against the bill on the House Floor last year.

To read the full legislative update using your NAIOPWA member profile, click here. 

Developer Rob Aigner Inducted into NAIOPWA Hall of Fame; Vulcan Real Estate Takes Home Developer of the Year Trophy

FOR IMMEDIATE RELEASE
Media Contact: Sarah Warnberg, [email protected]
 
BELLEVUE—Announced Friday evening at the Night of the Stars Gala, the Night of the Stars winners feature a premier slate of development projects and top brokers in the Puget Sound region.  Winners represented widespread innovation and excellence across office, retail, industrial, hospitality, and multifamily development.

Notable winning projects include a massive Microsoft modernization project, East Campus Modernization Project; dedicated practice facility for Seattle’s WNBA team, the Seattle Storm; and Holland Partner Group’s newest high-rise residential tower, The Ayer, among others.  Vulcan Real Estate was named the Developer of the Year for their expansive portfolio, market leadership in sustainability and diversity, and nimbleness in changing market conditions.  The full list of winners is below.

NAIOPWA Announces 2024 Night of the Stars Finalists & First Winners: Historic Renovation, Local Taproom, & Tenant-Focused Industrial Project Ushering Community Renaissance

 

People’s Choice Award with Daily Voting on the NAIOPWA website begins Wednesday, September 18

 

SEATTLE – Announced today at the “Women Who Build Seattle” breakfast panel, finalists for NAIOP Washington State’s 2024 Night of the Stars Awards showcased the premier commercial real estate developments that are revitalizing the Puget Sound region, from office and residential towers to well-positioned industrial and biotech campuses.  

This year, finalists include six candidates for Developer of the Year, representing a mix of industrial, multifamily, mixed use and office developers.

Best practices for Electric Vehicle (EV) charging in a multifamily building
As the EV market continues to gain momentum, the need for EV charging capacity will only increase. All multifamily buildings will need to consider how to provide the charging infrastructure needed to fulfill this demand and create a more sustainable future. The high cost of development leaves most developers and owners budget constrained; this is why it becomes imperative to provide the most responsive charging system. This piece will consider the practical realities of what an EV driver desires and needs from a charging system and offer solutions for the most cost-effective way to deliver the most expansive system possible. You’ll learn that it is imperative for a developer to plan for charging capacity from the utility for 20-30% of the parking spaces with L2 type stations. (that is only for capacity. Actual deployment of stations is better served with a mix of L1s and L2 stations.) This will set up developments to maximize tenant satisfaction and charging capacity in the future.

The EV driver and their wants and needs
What does an EV owner and resident of a multifamily building want in terms of charging capacity, and how does this compare to what they need? Sure, we’ve seen the stations with a credit card reader that give a relatively quick charge, but are these types of stations the right ongoing solution for an EV driver living in a multifamily building? The reality is that these pay stations are best suited for someone in a bind who needs an emergency charge of their vehicle. Most often an EV driver needs a dedicated charging station located where they park frequently for long periods of time. This means that residents of a multifamily building are best served by a dedicated parking space and charger. It’s that simple. All the other chargers serve as backups or sources needed for taking longer trips.

FOR IMMEDIATE RELEASE

Media contact: Sarah Warnberg, [email protected]

NAIOPWA to Partner with Commercial Brokers Association on Industry Awards

Commercial real estate association now soliciting nominations for 2024 awards cycle recognizing leading brokers in Washington State.

NAIOP Washington State has partnered with University of Washington (UW) to create the NAIOPWA Diversity, Equity, & Inclusion (DEI) Scholarship to support women and underrepresented minorities seeking ways to strengthen their place in the CRE industry. This scholarship provides financial aid to students enrolled in UW's Commercial Real Estate Certification Program, an eight-month course that prepares students for a career in CRE by providing insight into best practices and trends and helping them build industry connections. 

During the NAIOPWA event, “Navigating the Carbon Offset Market” attendees met in a cozy lounge space at MG2 to network and listen to four diverse local industry experts talk about a timely topic: carbon offsets.

Across the AEC Industry, many are focusing on how to reduce the embodied carbon in our projects. With concrete and steel being the biggest culprits in ground-up projects, it’s only fitting that they get the most press. In this piece we’re focusing on the cement component of concrete.

Through the NAIOP Washington State Foundation, NAIOPWA is able to apply the skills and resources of our membership to initiatives that give back to our community, engage students and foster their careers, and help create a more diverse, equitable, and inclusive commercial real estate industry. These initiatives are possible because of the generous support of our Foundation Committee Sponsors. Click on any committee name below to learn more about these sponsorship opportunities:

FOR IMMEDIATE RELEASE
Media Contact: Sarah Warnberg, [email protected]

Major Week for Priority Bills: Housing Affordability, REET, Energy Efficiency, Rent Control. 

The Seattle City Council recently rejected a proposal to move forward with a comprehensive plan amendment that would pave the way for Transportation Impact Fees in the City. As a commercial real estate association that advocates on behalf of our members, NAIOP Washington State opposed this effort to add unnecessary and harmful fees to the already costly development process. Though the City made the right decision, other municipalities continue to consider impact fees or fee increases, and the proposal could come forward again in Seattle in the future.

In 2023, NAIOP Washington State successfully defeated a bill during the legislative session that would have increased the real estate excise tax (REET). We anticipate similar legislation during the 2024 Washington State Legislative Session. During this session, REET may be rebranded as a “transfer tax.”  While we were previously successful in our efforts to stop a REET increase from moving forward, NAIOPWA’s Government Affairs team is actively engaged to defeat its passage once again.

With the start of the 2024 Washington State legislative session, bills overturning the current state pre-emption to rent control have been brought forward, as well as proposals which would implement state-wide rent control measures.  We strongly oppose any efforts to implement rent control, as well as efforts to overturn the state’s pre-emption.  It is important to take a sober look at why rent control is bad policy.

The latest results of the 2023 Seattle City Council election indicate a new phase for NAIOPWA’s local advocacy.  Through a substantial fundraising effort, we were able to support candidates in key races who offer a change in direction for many important issues our industry faces.

SEATTLE – Presented on Friday night at the NAIOPWA 2023 Night of the Stars Gala, the awards honored an impressive slate of commercial real estate projects that serve the community with innovations in retail, office, industrial and multi-family development.

The projects, and the developers who engaged them, demonstrate the flexibility and ingenuity of the CRE community. Additionally, NAIOPWA’s 2023 Night of the Stars finalists highlight important strides made in sustainable development, unique historical renovation, and a continued commitment to world-class development in the Greater Puget Sound area. 

SEATTLE – NAIOP Washington State is proud to announce the SIOR Broker of the Year Finalists.  These finalists are recognized for their outstanding achievements in office, industrial and investment brokerage.  SIOR, the Society of Industrial and Office Realtors, is the leading global professional office and industrial real estate association.  The winners of the following SIOR Broker of the Year categories will be announced alongside this year's outstanding development projects at the 2023 Night of the Stars gala and awards ceremony at the Hyatt Regency Bellevue on Friday, November 3, 2023. 

Tom Parsons, prominent figure of the Puget Sound commercial real estate community, will be inducted into the NAIOP Washington State Hall of Fame on Nov. 3 at the annual Night of the Stars awards ceremony and gala. The honoree is well-known for his time at Holland Partner Group, where he served as Executive Managing Director. Parsons was responsible for all development operations and strategic planning, including site acquisition and project entitlement, design, and execution. He oversaw the development of over 5,000 apartment units while at the company.

The 2023 inductee previously held roles at Opus Northwest, Fisher Properties, and Bircher McDonald Frank before joining Holland. He has taken many leadership roles throughout his professional career, including serving as President of NAIOP Washington State in 2001. His professional affiliations include 20+ years as a member of NAIOPWA and extend to NMHC, ULI, DSA, and the Seattle Chamber of Commerce. In addition, Parsons has been a longtime volunteer with the Boys and Girls Clubs of King County on the organization's Champions Council. 

2023 NAIOPWA Night of the Stars Finalists & First Winners Announced | Annual People’s Choice Award with Daily Voting Runs Sept 20 – Oct 6

SEATTLE – Announced at NAIOP Washington State’s September Breakfast, the slate of competitors for the association’s annual Night of the Stars Awards once again showcases the best commercial real estate development projects across the state completed in the past year. With the announcement, People's Choice voting begins online and runs through Weds., Oct. 6. 

Vote for People's Choice!

 

The 2023 legislative session drew to a close in April, marking the end of a session that has been billed by some as the ‘Year of Housing’ for Washington State. A remarkable 1,776 bills were introduced, and a staggering number of those bills pertained to housing, development, and commercial real estate.

NAIOP Washington State, a nonpartisan organization committed to creating a favorable political and regulatory environment for the commercial real estate industry, engaged deeply with lawmakers to advise on these bills and advocate for our industry. Lawmakers engaged NAIOPWA’s Government Affairs Committee leadership before session, requesting input on proposed bills and assistance in authoring bills, and continued to engage with NAIOPWA throughout the legislative session.