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LIVING IN REDMOND
Redmond, Washington is a vibrant city in King County situated 26 kilometres (16 miles) east of Seattle with a 2016 population of 62,458 (U.S. Census Bureau) and currently the ninth most populated city in King County.
Courtesy of ancient glaciers in the Puget Sound region that carved the picturesque natural setting of hills and valleys, the city's urban Downtown is located in the Sammamish Valley surrounded by forested hills and flanked by mountain views, just north of Lake Sammamish. Portions of the city border Lake Sammamish, which outlets to the Sammamish River and winds up the valley.
The Downtown is becoming more active and walkable with the inclusion of more residences, as well as shopping, entertainment and cultural attractions. A strong retail sector is enhanced by Redmond Town Center, an open-air mixed-use centre featuring 110 stores, 22 restaurants, a hotel, and 600,000 square-feet of office space. Not only a major location for shopping and employment, but it's a focus for tourist activity and public gatherings.
According to Redmond's Comprehensive Plan, the city has seen measurable grown since 2010 (the population has increased by over 10,000) while the city has evolved in size and composition. The community has experienced changes in demographics and will likely continue into the future: household types are changing as reflected in average age, number of persons per household and greater ethnic diversity.
Redmond includes a wide-ranging choice of housing types, which will continue to broaden over the next two decades. Development will produce considerable variety in the types and prices of newly constructed homes, including more cottages, accessory dwelling units, attached homes, live-work units and other smaller single-family homes. New homes blend with existing homes and the natural environment, retaining valued characteristics of neighbourhoods as they continue to evolve. While single-family neighbourhoods have remained stable, the number and variety of multi-family housing choices have increased significantly, especially in mixed-use developments in the urban centre. Source: City of Redmond.
Money Magazine rates Redmond as one of the top five places to live in America. Real estate market trends for Redmond as reported by Trulia.com indicate an increase of $132,000 (20%) in median home sales during 2017. The average price per square foot for this same period rose to $382, up from $322. The median sales price for homes in Redmond for May 24 to Aug 23, 2017 was $782,000 based on 379 home sales.
Like most of the Pacific Northwest, Redmond has a mild climate and experiences all four seasons, although winters tend to be cool and wet with November being the rainiest month. Snowfall is uncommon and averages just 10 centimetres (4 inches) with an average January low of 2 C (36 F). Summers tend to be warm and dry with low rainfall and sunny or partly sunny from June to September. On average, there are 155 sunny days per year with a July high around 24 degrees (76 F).
Redmond offers a healthy, safe, and amenity-rich environment for families and businesses. An emphasis on outdoor adventure is just one aspect that positions Redmond and the entire state of Washington as a desirable place to live.
With its location between the Cascade Mountains and Puget Sound, the City of Redmond's beautiful natural environment has an extensive park and trail system throughout the city and portions of King County. There are more than 34 parks, 1,000 acres of open space, and 95 kilometres of public trails in Redmond (63 kilometres are owned and operated by the City). Redmond is nicknamed the "Bicycle Capital of the Northwest" because of its annual bike race in the city established in 1940 (America's longest-running). Source: City of Redmond.Contact Us
ECONOMIC DRIVERS & BUSINESS GROWTH IN REDMOND
Outdoor recreation contributes not only to the region's high quality of life but also to Washington's overall economy. King County's geography offers a variety of outdoor activities that produce significant economic impact. Across the state, outdoor recreation creates 199,000 jobs and $21.6 billion in annual consumer spending. From boating and hiking to skiing, the outdoors is as much recreational as it is economical. Source: Economic Development Council of Seattle and King County (EDC).
Redmond's location is one main reason for the increasing number of businesses moving into the city. Redmond's proximity to both downtown Seattle and Bellevue makes it a hub that is attracting traditional commerce and entrepreneurs. Forbes.com ranks Redmond as one of the "20 Happiest Cities To Work In Right Now."
Seattle-King County has a diverse economy with thriving industry clusters. The success of the clusters has contributed to innovation for emerging industry segments such as biomedical devices, interactive media, e-commerce, clean energy, and space exploration. Small and medium-sized businesses provide a vital contribution to the cluster ecosystem, and in turn benefit from the collaborative climate for which the Seattle-King County region is known. Source: EDC.
Redmond enjoys a diverse and growing economic base (including seafood processing, package delivery and medical services). The city is poised as a world leader in technology and innovation, and is nationally recognized as the centre of technology; it's home to many prominent high-tech companies such as Microsoft, Nintendo, AT&T, and Medtronics Emergency Response Systems, among others. It's also the location for a number of nationally known gaming, aerospace and biomedical companies, as well as innovative start-ups.
King County has engineering and operations for Google, Facebook, Apple, Intel, Hewlett-Packard, Oracle, Yahoo!, and Adobe. It's a little known fact that King County has a higher concentration of interactive media companies than Silicon Valley. Source: EDC.
Modern Banking Strategy
If you are seeking an infusion of capital to stimulate company growth and help facilitate your business strategies, Bond Capital is an experienced Canadian merchant bank and direct source of capital that offers customized total financial solutions.
Business in Redmond is competitive and the bankers at Bond Capital are adept at accurately matching capital to opportunity to help you grow your business and prosper as a shareholder.
We can help to build a unique business solution that will foster growth and diversity in your business. You can achieve financial efficiency while increasing competitiveness and gaining access to more capital by working with us.
If you would like to learn more about the business loan options available to you, please contact us today. We will arrange a meeting with one of our Redmond representatives.Contact Us