Experts make predictions for Amazon’s second HQ selection

New York made the list of "least likely to be chosen" cities

New York Weekend Edition /
Mar.March 04, 2018 04:50 PM

(Credit from back: Westsara, Pexels)

For those who just can’t stand surprises, a recent survey of 100 economists and real estate experts released a report predicting the top contenders — and all signs seem to point to either Northern Virginia or Atlanta.

Compiled by Zillow, the survey looked at home values, rental markets, job growth, public transit, access to lawmakers and a pool of well-educated potential workers to select the two top contenders.

“As the experience of Seattle suggests, Amazon will not only directly bring thousands of high-paying jobs to the chosen city, but also has the potential to transform the regional economy,” said Zillow’s Aaron Terrazas in a release.

But the dark side to Amazon’s HQ2 can also be demonstrated by looking at the case of Seattle according to other experts.

“These cities should be prepared not only to justify their financial inducements, but to carefully weigh the social risks and costs,” said Pulsenomics’ Terry Loebs. “The mix and degree of these potential risks, such as diminished affordable housing stock, more congested roadways, and greater income inequality, vary considerably across the 20 markets.”

Whether Atlanta will still remain a strong contender in light of lawmakers revoking tax breaks from Delta Air Lines after it ended discounts for NRA members remains to be seen, as CNBC noted. Amazon’s top 20 shortlist was announced earlier this year and four southern cities were quickly singled out as strong potential choices. — Erin Hudson


Related Articles

arrow_forward_ios
Skylight Real Estate's Bennat Berger with 300 Grand Street (Skylight Real Estate, Street Easy, iStock)
Scarcity play: Hoboken apartments fetch $56M
Scarcity play: Hoboken apartments fetch $56M
From left: Bert H. Dweck and Joe Sitt with 790 Madison Avenue (
Joe Sitt, Bert Dweck settle Madison Ave dispute with fashion house
Joe Sitt, Bert Dweck settle Madison Ave dispute with fashion house
IBM's Arvind Krishna and One Madison Avenue (IBM, One Madison Avenue, Illustration by Kevin Cifuentes for The Real Deal)
IBM CEO: Only 60% of office workers will ever return full-time
IBM CEO: Only 60% of office workers will ever return full-time
Marcus & Millichap Associate David Ferber in front of part of the 30-building, 319-unit portfolio concentrated in Jersey City (Marcus and Millichap, iStock)
Hot rental market boosts NJ multifamily despite rate hikes
Hot rental market boosts NJ multifamily despite rate hikes
Orbach Affordable Housing Solutions' Meyer Orbach and One East River Place (Orbach Housing, Google Maps)
Black Spruce, Orbach strike $1.8B NYC multifamily deal
Black Spruce, Orbach strike $1.8B NYC multifamily deal
Industrious co-founder Justin Stewart and 25 Broadway/Cunard Building (LinkedIn, Tdorante10/CC BY-SA 4.0/via Wikimedia)
Industrious partners with Wolfson for 44K sf at Cunard Building
Industrious partners with Wolfson for 44K sf at Cunard Building
The Indie Cultivate event and Independent Lodging Congress president Andrew Benioff (Independent Lodging Congress)
Is innovation dead? These real estate disruptors say no
Is innovation dead? These real estate disruptors say no
Bentley Zhao and 58-01 Queens Boulevard (New Empire Real Estate, Google Maps, iStock)
New Empire plans ambitious condo in quiet Woodside
New Empire plans ambitious condo in quiet Woodside
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...