Keller Williams Greater Seattle, Ben Kakimoto, Seattle Condo Agent

Land Use Updates

From the city’s Department of Planning and Development:

Greenlake – Supplemental Design Review Meeting for the old Albertson’s lot. The proposal is for a 4 story building with 137 units, 11 work/live lofts and retail space.

March 19th at 6:30 PM at the University Heights Community Center, 5031 University Ave NE Room 209.

Update: The Albertson’s block will be developed as the Alexan Green Lake, a 137-unit 3-building apartment and retail complex (rendering below).

Alexan Green Lake

Queen Anne – Early Design Review Meeting for proposal at the corner of Queen Anne Ave & W. Crockett for 39 residential units and retail space.

March 7th at 8:00 PM at the Queen Anne Community Center, 1901 1st Ave W Room 1.

Capitol Hill – Early Design Review Meeting for a 6-story & 4-story apartment project at the corner of Broadway and E. John Street.

March 21st at 6:30 PM at Seattle Central Community College, Room 3211.

Belltown – Notice of Decision – approval with conditions for 2000 3rd Avenue (NE corner of 3rd and Virginia). Proposal is for a 43-story building with 431 residential units and a 40-room hotel…but with only 364 parking spaces.

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About the Author

About the Author: Ben Kakimoto is a Seattle condo and urban real estate marketing & listing specialist. Contact Ben to learn more about the Seattle condo and loft real estate market or about buying or selling a Seattle area condo. Find Ben on Google+, Twitter and Facebook. .

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There Are 12 Brilliant Comments

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  1. dan says:

    Ben, would you know if the Greenlake (site of old Albertson’s) proposal is for apartments or condos?

    Thanks,
    Dan

  2. Ben_Kakimoto says:

    Dan – The last I read the developers hadn’t made a decision, though I think they’re leaning towards apartments.

  3. Cindy says:

    Hi Ben,

    What is the name of the developer?

    Thanks!

  4. Ben_Kakimoto says:

    I believe the developer is a subsidiary of Trammel Crow Residential called Green Lake Block LLC. The contact info on the land use application is the architectural firm, Collins Woerman.

  5. Cindy says:

    Ben,

    I got a tour around the new Florera condo in greenlake last weekend and I noticed that there was a small fire station behind it. Do you know the noise on level on this station? Do they have certain restrictions where the siren can’t be turned on after midnight?

    Also, the prices on these condos were extremely high for a one bedroom with no view of the lake. I like the place but I’m not sure if I should get it at this price. Need some advice, please =)

    Thanks,

  6. Ben_Kakimoto says:

    I don’t have an answer regarding the fire station. If you’re serious about this project you might want to drop by the fire station and inquire with them.

    Florera’s prices (per square foot) is commensurate with many of the downtown projects, so it does appear high that far north of the city center. However, the Green Lake neighborhood is a desirable area with a relatively small number of condos which may impact pricing. Also, choosing to live in area is a lifestyle choice – Florera is less than two blocks to Green Lake Park, cafes and shops. You may find more affordable pricing by going slightly further away, say to the Roosevelt, Greenwood or Wallingford districts.

  7. Cindy says:

    Hi Ben,

    One more question for you (since you’re an expert in real estate =)), if I were to buy the Florera condo, do you think it will be a good investment? Many of my friends are telling me that the price is too high and at it’s cap therefore the value wont appreciate much in the future. What’s your opinion on this?

  8. Ben_Kakimoto says:

    Cindy – this is only my opinion so that it for what it’s worth…if you do hold the unit for a couple of years, I believe it may very well be a good investment. I’d be less enthusiastic about a quick flip (like folks are doing at Cosmo). The Green Lake area does have pull, again, it’s a desirable neighborhood for many people, particularly those who enjoy the activities at the park.

    One thing to keep in mind, there are two other projects planned (I can’t confirm they’ll be condos at this time) at the Vitamilk and Albertson’s sites which may add to the competition. Though, it’s not quite the level of development we’re seeing around the city core.

  9. Lily says:

    Ben, I’ve been trying to find out more about Pryde+Johnson – what is their reputation like? Do they have a clean record of completed projects in the past few years?

  10. Ben_Kakimoto says:

    Lily – I don’t have much history about Pryde+Johnson (husband & wife team). What I’ve been able to gather, they’ve been in the housing business for 20 years and have previously built condos in West Seattle and townhouses. It looks like they plan on several other Ballard projects and will eventually develop the BMW Seattle lot on Capitol Hill. It looks like the Pryde of Pryde+Johnson is a second generation builder…his father (Pryde Corp) built homes on the Eastside for many years.

    They do have 3 current projects, all are green, environmentally friendly projects. One of the projects is completed, Ashworth Cottages at the north end of Green Lake. If you happen to take a tour, you’ll be able to view their craftsmanship/quality.

  11. Libby says:

    Hiya,
    You mentioned above that the Vitamilk site and the Albertsons site may be condos – do you have any updates on that? The Alberstons has been torn down to the ground, and it looks like crews are demolishing the entire block, including the storefronts on Woodlawn Ave N next to the old Vitamilk.
    i’ve also seen land-use announcements for Spud’s and for the Yasuko’s teriaki on Latona Ave NE and Woodlawn Ave N (across from the Greenlake Veterinary office). Any news on whether they will turn these buildings into condos too? Would any condo developments require that parking be made available for the influx of residents at these locations?

  12. Ben_Kakimoto says:

    Libby – it looks like the Spud’s location will be a 4-story mixed use building with 12 apartment units with 15 parking spaces. As for the Yasuko’s parcel, it appears it will be part of the Hearthstone Retirement home across the street as they’re listed the the financially responsible party on the land use application.

    The Vitamilk block will include a 3-building apartment complex and retail, which has been named “Park71@Green Lake”. It’s being developed by Lorig on behalf of the of the family that owned Vitamilk. I don’t have any confirmation on the Albertsons lot yet.

    The city does have requirements for the number of parking spaces developer must provide for their projects, depending on zoning. Condo developers normally provide at least one parking space per unit. The exceptions will likely be lower-end studios in the downtown area or conversions.

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