Comments on: Land Use Updates

By: Ben_Kakimoto

Ben_Kakimoto — Fri, 10 Aug 2007 17:30:36 +0000

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.

By: Libby

Libby — Thu, 09 Aug 2007 22:34:05 +0000

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?

By: Ben_Kakimoto

Ben_Kakimoto — Mon, 23 Jul 2007 22:40:44 +0000

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.

By: Lily

Lily — Mon, 23 Jul 2007 22:00:28 +0000

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?

By: Ben_Kakimoto

Ben_Kakimoto — Fri, 27 Apr 2007 22:01:40 +0000

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.

By: Cindy

Cindy — Fri, 27 Apr 2007 19:28:25 +0000

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?

By: Ben_Kakimoto

Ben_Kakimoto — Thu, 26 Apr 2007 01:03:26 +0000

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.

By: Cindy

Cindy — Wed, 25 Apr 2007 17:08:29 +0000

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,

By: Ben_Kakimoto

Ben_Kakimoto — Fri, 20 Apr 2007 17:23:48 +0000

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.

By: Cindy

Cindy — Thu, 19 Apr 2007 22:29:52 +0000

Hi Ben,

What is the name of the developer?

Thanks!