BELLEVUE, Wash. — Expedia Inc. is shrinking plans for a new headquarters on Seattle’s waterfront, Bloomberg Technology reports.
The cost-saving move could cut the planned $1 billion to $1.2 billion budget in half.
The online travel agency, currently based in Bellevue, is moving downtown in an effort to appeal to young tech workers, Bloomberg said.
In an interview with Bloomberg, Chief Financial Officer Mark Okerstrom said the company decided to take a "modular approach," building only as much as it needs for its initial move-in date in 2019.
The new campus will include several low-rise buildings, a sharp contrast to the 20-story tower that Expedia currently occupies across Lake Washington.
Expedia says it plans to complete the build-out in stages rather than all at once.
The new headquarters will occupy the old 40-acre Amgen Inc. campus, Bloomberg said. Expedia purchased the building for $228.9 million.
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