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This week, Amazon formally opened the doors of the first part of its new East Coast headquarters, dubbed HQ2, in northern Virginia. It raises the question why Amazon, with its sprawling campus in Seattle and a growing real estate footprint globally, needed to build a second headquarters. HQ2 has some of the same quirks as Amazon's Seattle campus. The towers feature plant-filled terraces and a rooftop urban farm that echoes the feel of the "Spheres," botanical gardenlike workspaces that anchor Amazon's Seattle office. Amazon's HQ2 features some of the same quirks as its Seattle headquarters, like a community banana stand.
Persons: Jeff Bezos, John Schoettler, Schoettler, John, Glenn Youngkin, Tasha Dooley, Bezos, Holly Sullivan, Sullivan, HQ2, wouldn't Organizations: Amazon, Microsoft, Puget, Seattle, Metropolitan Park, Companies, Employees Locations: Coast, Virginia, Arlington, Seattle, Redmond , Washington, HQ2, North America, New York's Long Island City, Crystal City, Arlington , Virginia, Long Island City, Nashville , Tennessee, Bellevue, There's
Amazon expansion collides with contraction
  + stars: | 2023-03-06 | by ( Jennifer Saba | ) www.reuters.com   time to read: +3 min
NEW YORK, March 6 (Reuters Breakingviews) - Amazon.com’s (AMZN.O) rapid expansion is hitting a wall. When it comes to those trends, even Amazon can’t be too sure. But when it comes to the intersection of hiring and work-from-home trends, even Amazon doesn’t have a crystal ball. Follow @jennifersaba on TwitterCONTEXT NEWSAmazon.com is pausing the construction of its next phase of its second headquarters in Arlington, Virginia, the company said on March 3. In 2018, Amazon awarded the Washington suburb with the promise to invest $2.5 billion and hire 25,000 workers.
New York CNN —Recent headlines point to a slumping US housing market — as mortgage rates average near 7%, an increasing number of potential homebuyers are finding it difficult to finance homes. David O’Reilly, CEO of the real estate developer Howard Hughes Corp., told CNN that he’s “cautiously optimistic” that the residential housing market is rebounding after a downturn in the second half of 2022. Recent data point to doom and gloom for the housing market. Are you having issues attracting new buyers because of higher mortgage rates? On Thursday, Challenger, Gray & Christmas is set to release its job cuts numbers for February, and Friday brings the main show — the US jobs report for February.
Amazon had earlier said the Virginia headquarters, a multi-year investment dubbed 'HQ2', would create 25,000 jobs. John Schoettler, Amazon's real estate chief, said in a statement on Friday the company was pushing out the date for groundbreaking of PenPlace, the second phase of the northern Virginia campus. Met Park comprises of two 22-story office buildings with 2.1 million square feet of office space, and a two-acre public park. Earlier this year, Amazon announced it would eliminate more than 18,000 roles, in one of its largest layoffs in history. However, the delay in construction would not mean any elimination in jobs, Amazon said.
Amazon will halt construction at its planned Virginia headquarters, but workers will still move into nearly completed areas of the project, Bloomberg reported. According to Bloomberg, a nearly completed first phase of the headquarters called Metropolitan Park will continue as planned, and will house employees starting in June. "We're always evaluating space plans to make sure they fit our business needs and to create a great experience for employees," Schoettler told Bloomberg in a statement. Schoettler did not confirm a new start date for PenPlace construction, but told Bloomberg the second headquarters would always be a long-term undertaking. "Our second headquarters has always been a multiyear project, and we remain committed to Arlington, Virginia, and the greater Capital Region," Schoettler told Bloomberg.
Amazon HQ2 rendering showing the Helix, which includes work space, will also be open to the public select weekends every month. Amazon is pausing construction of its second headquarters, dubbed HQ2, in Virginia, the company confirmed to CNBC. John Schoettler, Amazon's real estate head, said in a statement the company is pushing out the groundbreaking of PenPlace, the second phase of the sprawling northern Virginia campus. "Our second headquarters has always been a multi-year project, and we remain committed to Arlington, Virginia, and the greater Capital Region." Amazon selected Arlington as the site of HQ2, in addition to the Long Island City neighborhood of Queens, New York, as part of a closely watched, splashy search for a second headquarters that kicked off in 2017.
CNN —Amazon is pausing construction on its second headquarters in northern Virginia, the company confirmed in a statement to CNN on Friday. John Schoettler, Amazon’s real estate chief, said the company is pushing back the groundbreaking of the second phase of the sprawling new headquarters. The first phase is still under construction and expected to open in June. “We’ve decided to shift the groundbreaking of PenPlace (the second phase of HQ2) out a bit,” Schoettler said in a statement. Amazon’s search for a second headquarters kicked off in 2017, spurring a major competition as local officials across the country competed for the e-commerce giant to bring jobs and other benefits to their communities.
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