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It will be far more interesting to see the impacts on Queens versus Crystal City, IMHO. Crystal City already has a strong tech presence - it's government, not
by josephmosby 8y ago
It will be far more interesting to see the impacts on Queens versus Crystal City, IMHO.
Crystal City already has a strong tech presence - it's government, not industry, but still - no shortage of technology around. 25K new workers is about a second Pentagon in the area, but nothing more than that. Office rental rate pressure will slightly go up, but Amazon's a drop in the bucket compared to federal government buying power for office space.
Queens, though, is a dramatic change to the general landscape of that area. I can't even imagine an Amazon-style campus in the middle of Jamaica.
- awad 8y agoAssuming that the campus is in or around LIC proper, there's a lot to work with in the immediate area. Given recent and future development of proper high-rises along the waterfront, plus further re-zoning of formerly industrial areas to the south and into Brooklyn, you could see the long-awaited revitalization of the old shipyards.
- sotojuan 8y agoIt seems the new HQ will be in or near LIC. That is already a super tech-and-finance gentrified and expensive area a station or two away from Manhattan. Not exactly groundbreaking.
- flavor8 8y agoArlington has been running a fairly high office vacancy rate for a long time. Amazon moving in doesn't really require new construction. https://data.arlingtonva.us/dataviews/227253/vacancy-rates/ https://data.arlingtonva.us/dataviews/227253/vacancy-rates/