Fundamentals strong in Seattle

Austrian builder to enter Puget Sound market and build 500 new homes


Henley Properties said Monday it plans to build 500 houses in King, Snohomish and Pierce counties by the end of 2012. That would make it one of the area’s largest builders and would be the Austrian firm’s first U.S. venture.

“Henley is making a bet the region is poised for recovery,” said Peter Hayes, the company’s managing director.

Local real-estate observers said Henley’s arrival is a vote of confidence in the Seattle market, where new-home construction fell sharply during the recession and is just beginning to recover.

All the fundamentals are strong here, even though we’re still working our way through the recovery,” said Allison Butcher, spokeswoman for the Master Builders Association of King and Snohomish Counties.

Read complete article at Seattle Times

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