Amazon chooses Virginia and NY as new headquarters

Amazon chooses Virginia and NY as new headquarters

Amazon chooses Virginia and NY as new headquarters

Google, which is planning its own major expansion in NY that would more than double its staff numbers in the city, said on Tuesday that it had not received any tax breaks. "Amazon is now treating even the biggest of American cities with the same disrespect it shows for the suppliers and the merchants who depend on its website to reach customers".

The seller saw dollar signs. "The slowdown that happened in Long Island City is now not going to happen".

Confirming rumours that have swirled for over a week, USA -based e-commerce giant Amazon has formally announced that Long Island City in New York City and National Landing in Arlington, Virginia will serve as the two sites for the company's second North American headquarters (HQ2). Stephen Moranis is a real estate industry veteran.

Amazon received 238 proposals for HQ2, spanning 54 states, provinces, districts and territories across North America. Companies in Seattle and San Francisco have increasingly expressed concern that tech talent there would migrate to Salt Lake City, Boise or other cities where homes are more affordable.

Amazon has so far not commented on the claims in the Wall Street Journal.

"We're looking at any and all ways in which we can reassert the city's and the people's process here", Van Bramer said. "We also think that 25,000 as a floor is easier for the communities to absorb", he said.

The outcome "suggests that there were only two places they could go".

The neighborhood is already contending with the problems that a sudden influx of residents bring.

"We are excited to build new headquarters in New York City and Northern Virginia", Amazon chief executive Jeff Bezos said in a statement. She had to tell them it was in contract. Buyers, though, had adopted a wait-and-see stance as mortgage rates rose, luxury construction flooded the market and interest from foreign buyers waned.

Online searches for homes in the two locales have skyrocketed.


But Long Island City also has been straining to handle its growth.

In Crystal City in Arlington, Amazon said it expects to receive $573m in incentives for their investment and that they project to generate $3.2bn in tax revenue in the same time period. And agents at Modern Spaces, a brokerage based in the neighborhood, were so busy on Sunday that they summoned management for reinforcement. In other words, Seattle is also getting an HQ2.

"It's really a no-brainer", Fuller said.

Yet over the weekend, open house attendance in Long Island City suddenly tripled as word of Amazon's announcement became public, said Christopher Austad, a real estate broker with Douglas Elliman. The decision will let the company tap into the labor markets of NY and Washington and retain bargaining power with two localities for decades. It ranks No. 1 in newly authorized units, as well as for permits awaiting approval.

Yes, we're hearing about new infrastructure, and boatloads of money coming to the shores of each of these fair cities, in the form of six-figure salaries, and the economic ripple effect that will follow.

The making of a possible apartment glut was exacerbated by a citywide slowdown in sales this year, which led to an 18 per cent decline in the median price of resales in Long Island City in the third quarter from the prior year, according to StreetEasy.

Jennah Goldman, an Arlington resident who designs custom clothing, was especially pleased to hear the news of her new neighbor.

LCOR, the developer of Crystal City's Altaire, two rental towers with penthouses that rent for more than US$12,000 a month, also just got lucky.

The site in Arlington is just across the Potomac River from downtown Washington DC, which could give Amazon greater political influence in the capital.

One close watcher of Amazon's HQ2 process and the broader landscape of corporate-location strategy said the mounting scrutiny around incentives has the potential to weigh on the company's brand. "We are pleased to have attracted global companies that contribute to our innovation economy, supported by the Commonwealth's world class colleges, universities and top research facilities and will continue to focus on attracting good-paying jobs and new employers to every region of the Commonwealth".

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