Hot 'Hoods

What does a gaming guru starting a new venture have in common with a CEO planning to move the company’s headquarters? Rather than heading to the suburbs, both are now more likely to choose a city neighborhood for their new digs.

Commuting long distances is still the norm for many workers in the Puget Sound region. But the next few years may bring a shift in thinking about what the priorities are for both workers and employers when it comes to locating a business. The growing trend is to place offices where employees can work, live and play—all within a short distance.

While technology has long allowed many offices and businesses to be just about anywhere, rising energy costs, a focus on environmental issues and the demands of today’s workforce have business owners increasingly considering leasing office space in the region’s major cities.

That’s why Seattle Business focused this year’s Best Locations for Business survey on urban neighborhoods. Within that framework, we used much of the same criteria that we have for our past reviews of the region’s suburbs and cities.

Whether picking a city or a neighborhood, executives planning to relocate care about leasing costs, crime rates, the economic vitality of the surrounding neighborhoods and access to transportation. Also playing a role is the proximity to amenities, which include the number of restaurants, movie theaters, museums and, yes, Starbucks coffee shops.

Our research team, led by Sheila Mickool, initially examined more than 110 neighborhoods in Seattle, Bellevue, Everett and Tacoma. Subsequently, the list was narrowed down to 27 of the most promising places.

Four of the neighborhoods profiled are among the region’s hottest locations to lease office space, offering a wide variety of choices and amenities. Our fifth profile is an up-and-coming neighborhood that may, in the future, be the next hot location to hang your shingle.

South Lake Union's 'Hip Factor'

In the last few years, this Seattle neighborhood has become one of the hottest places in the region to build a business.

• Population: 3,786
• Median home price: $369,950
• Crimes per thousand residents: 227
• Avg. office lease rates/sq. ft.: $26.61
• Amenities located in the area: 948

When Ted Steffen opened his chiropractic and massage clinic, he knew he’d have some explaining to do for the first year.

The clinic’s name, Lake Union Chiropractic, did not quite jibe with its location, in the heart of the University District. But it was all part of a grander plan.

In late 2007, Steffen,

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