Paine Field Attracting Investors

Paine Field Terminal
Paine Field Terminal

Paine Field developer Propeller Airports announced today that they accepted an investment from a firm who manages funds for the Washington State Investment Board. WSIB manages pension funds for some state employees. Read more here:

https://www.prnewswire.com/news-releases/propeller-airports-welcomes-investment-from-washington-state-investment-board-wsib-and-global-infrastructure-partners-gip-in-paine-field-passenger-terminal-300929136.html

For those in the flight path this news sort of cements the fact that the airport is thriving. Propeller feels validated and believes that means a strong outlook for the future.

I have mixed feelings about the airport since it was announced (see previous post). I live next to the flightpath over Japanese Gulch. It has irritated me enough to log complaints on my airnoise.io app when I am awoken at 6AM on a Sunday morning. I would like to suggest some early morning quiet hours for the sake of my weekend beauty rest! Some weekends I am blessed by the wind direction and they take off and land to the South.

Poll Results from 101 Residents

A majority of the Mukilteo residents poll positively about the commercial flights. In fact a 44% loved it, 35% had mixed emotions and only 19% hated it. I wonder if once I fly out of Paine Field for the first time I will change my opinion? I'll follow up with that next month.

Home Values

I have not seen a change in the real estate market as of yet. The number of new listings has been stable since the announcement of the commercial service and the start of the flights. Home prices have continued to increase at a normal pace and market time has been consistent.

One thing that did surprise me is how the new flights have affecting other areas. I showed a home in Brier a few weeks ago and while we were at the home three loud airplanes flew overhead. In the end it wasn't a deal breaker for my client but some may feel differently.

I have come to terms with the fact that there are more flights taking off from Paine Field on a regular basis and it does annoy me but not enough to move from my beautiful Mukilteo neighborhood. It is a great place to live and if I wanted to I could be on a plane in a hop skip and a jump - or an Uber. Parking is expensive at the airport, so I've heard!

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