View Sanctuary homes listed for sale

Construction is now complete and the 12 town homes are scheduled to be listed for sale next week at up to 45% below original list prices. A preview open house will be hosted this weekend from 11am – 5pm to showcase new model homes and the common areas.

The following is from a news release about The Sanctuary development on Capitol Hill.

(January 19, 2012) SEATTLE — Construction on The Sanctuary—a 12-unit, residential conversion located within the former 1906 First Church of Christ, Scientist in Seattle’s Capitol Hill neighborhood—is now complete.

Originally built between 1906 and 1911 and designated an historic landmark by the City of Seattle in 1977, the completed project—now consisting of fee simple, concrete and steel town homes—offers a rare mix of intricate historic features, artisan craftsmanship and innovative modern design elements. The construction team was spearheaded by Belfor Property Restoration, Runberg and Associates, Robin Chell Design and The Justen Company.

A compelling example of adaptive reuse and historic preservation, redevelopment on the project initially began in 2007 but was stalled in 2010. An affiliate of San Diego-based Pathfinder Partners, LLC, acquired the construction note on July 7, 2011, and funded an additional $2 million to bring the project to its full potential. In readying the homes for sale, Resource Transition Consultants, LLC (RTC), the seller, responded to feedback from local real estate brokers, prospective homebuyers and other market experts.

“We made many improvements and are thrilled with how the individual homes and common areas turned out,” says Rob Nall, a principal of RTC. “The additional construction and restoration was worthwhile—we’ve optimized the final product and the pricing for positive market acceptance.”

In addition to changing the building use to residential with the City of Seattle, RTC worked through the Landmark Preservation Board to protect key architectural features while improving livability. For example, the century-old stained-glass windows now slide to the side, revealing new vision glass, which adds natural light, territorial views and fresh air to the unique residences.

“Our job is to complete construction, realign values and sell the homes at prevailing market rates,” adds Nall. “This is a unique scenario in which an inspiring product designed at the peak of the housing market may well sell at bottom-of-the-market prices.”

Despite its Classical Revival-style architecture, the former church now boasts modern interiors and technology, as well as high-rise construction quality within. Each home features soaring 30-foot-high ceilings, metalwork and cabinetry crafted by Seattle area artisans, polished concrete floors, re-purposed marble from the original building and top-of-the-line appliances and fixtures that include brands such as Wolf, Bertazzoni, Liebherr, Asko, and Kohler to name a few.

Ranging from four to six levels (including roof top terraces); the town homes are sized from 1,600 to more than 3,000-square-feet and will list from the low $500,000s to $1.1 million – about 45% below original asking prices, according to the listing brokers.

“Waiting paid off for patient homebuyers trying to time the market at The Sanctuary,” said Dean Jones, principal of Realogics Sotheby’s International Realty. “We’re offering a greatly enhanced yet highly affordable product by virtue of dramatically lowered purchase prices and historically low interest rates. And the landmark designation means significantly reduced property taxes for the next ten years.”

Two model homes will be opened this weekend for public previews from 11 a.m. to 5 p.m. The official sales debut is scheduled for January 28, 2012 when the sales office opens. More information can be found on the recently launched website at www.LiveatSanctuary.com.

Similar posts you may find interesting:

1. Update on The Sanctuary – Capitol Hill
2. The Sanctuary Resurrected
3. Four Seasons, First Church, Danielle
4. First Church – Capitol Hill

The Pontedera Condominium, situated just south of Downtown Seattle at 827 Hiawatha Place just reduced prices significantly on a number of units. The price drops range from $10,000 up to nearly $60,000 per unit! Good thing, too, since there’s only been 18 closed sales out of 102 unts, with only 2 sales in the past year, per NWMLS & county records.

It’s a shame really since Pontedera was nicely designed and accented, plus it’s conveniently located to downtown, Capitol Hill and the International District. Home prices start from $174,900 and there are several incentives and programs geared to first-time and lower income home buyers, including down payment assistance, property tax exemptions for qualified buyers and no HOA dues for a year. Its worth checking out.

View available Pontedera Condo homes for sale

1111 E Pike Street – Capitol Hill

The Tom Kundig designed 1111 E Pike Street Condominium is down to the final three homes for sale. The uniquely designed boutique condo building is located in the heart of Capitol Hill’s trendy and vibrant Pike Pine Triangle. Homes start from $314,950. Own for less than comparable Cap Hill apartments rent for!

View the last remaining 1111 E Pike condos for sale

Hjarta Condominium – Ballard

Ballard’s green constructed concrete and steel Hjarta Condominium reports they are now over 75% sold. Per NWMLS records, Hjarta closed 25 units, just over 30% of its homes in 2011.

Hjarta is located at 1530 NW Market and is one of only two new constructed condominiums in Ballard. Hjarta’s new home prices start from $264,950.

View Hjarta condos for sale

Marselle Condominium – Lower Queen Anne / South Lake Union

The Marselle Condomium report they have sold 100 homes, or 75%, since opening, with 21 home sales in 2011. Marselle features a variety of floor plans ranging from open one-bedrooms to 2-story three-bedroom penthouses with soaring ceilings.

Marselle is located at 699 John Street in the shadow of the Space Needle…a great place to call home for those who work in downtown or South Lake Union. Home prices begin from $199,990.

View Marselle condos for sale

Danielle Condominium – Ballard

Ballard’s other new construction condominium, the Danielle, is down to its final three homes for sale — 2 one-bedroom units and a two-bedroom. Located at 5803 24th Ave NW, it’s close to Ballard’s many shops, restaurants and attractions. The remaining homes range from $219,950 to $479,950.

View Danielle condos for sale

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The design proposal states the residential levels of the building will use a prefabricated modular construction system with the modules manufactured offsite.

An early design review guidance meeting is scheduled for Tuesday, December 13th at 5:30 pm at Seattle City Hall.

Unlike other buildings developed adjacent to existing condominiums in the Belltown area, this shouldn’t affect the vast majority of the Grandview owners. The proposed building just tops the garage podium base of of the Grandview. From the renderings, it’ll affect the lower 4-levels or so of the Grandview’s north-facing units.

Rendering courtesy of Bushnaq Studio.

Similar posts you may find interesting:

1. Battery and Elliott Design Review Meeting
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4. Hjarta Phase 2 Approved

According to the land use application Hjarta II will be a 7-story building containing 102-residential and 4-live/work loft units with parking for 86 to 106 vehicles. While Hjarta II was originally conceived as a second phase to Hjarta Condominium, the current application is for apartments. Given the slow sales pace at Pryde+Johnson’s last two condominium projects (Hjarta and the Florera at Green Lake, which is predominately rentals) it’s not surprising the present plan is for apartments.

On the other hand, Ballard, like Capitol Hill and downtown, has several apartment buildings in the pipeline including massive developments at old Sunset Bowl, Denny’s and the old library sites, among others. If Hjarta II is built, by the time it’s completed, Ballard may very well have a glut of rentals and could be primed for additional condo units. Who knows.

Read the DPD conditional approval decision notice
View the Hjarta II proposal (pdf)

Images courtesy of Weber Thompson

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Marselle Condominium
The Marselle Condominium has surpassed the 100 unit sales mark and is now over 75% sold. The new construction condominium near the Seattle Center still has a number of great single level flats and two-story townhome penthouses available. Prices start from $219,990.

One Main Street Condominium
The One Main Street Condominium near Downtown Bellevue recently reduced prices up to $30,000 on select one-bedroom plus den homes, which now begin at $379,900. Regular one-bedroom homes start from $299,900.

Land Use Action
The Seattle DPD approved a couple of notable proposed apartment developments in Belltown. This morning the DPD approved the 27-story development next to the Seattle Heights Condominium at 225 Cedar Street. The current proposal is for a tower at the NE corner of the block at the site of the American Lung Association building. Eventually, the development will encompass the entire east half of the block. Across the street, the Alto apartment building is currently under construction. View decision (pdf).

A few weeks ago, the Schuster Group’s Joseph Arnold Lofts project received conditional approval. The proposed 13-story apartment building will be adjacent to the Bellora and Klee Condominiums. Virtually all of Bellora’s southern views will be obstructed as well as the west views of the Klee’s south building. View decision (pdf).

Queen Anne High School
The Puget Sound Business Journal reported that developer of the Queen Anne High School Condominium is battling its insurer after loosing a $9.4 million lawsuit brought on the homeowners association.

According to the article, the homeowners association filed a lawsuit alleging breach of contract, implied warranty, and violation of the Consumer Protection Act in its marketing of the property, among other issues.

Developer, insurer now at odds over $9.4M ruling on Queen Anne High School via Puget Sound Business Journal

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1. Queen Anne High School Update
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Resource Transition Consultants (“RTC”), the court-appointed receiver for the lender of The Sanctuary, has announced the appointment of a design and construction team – led by Seattle-based general contractor Belfor Property Restoration – to complete the 12-home development by December, 2011. The project is expected to reenter the marketplace for sale in January, 2012.

“We’ve assembled a world-class development team to complete the vision of The Sanctuary – a century-old church in Seattle’s Capitol Hill neighborhood that was converted into a premier multifamily community – and we look forward to successfully reintroducing the project for sale in the New Year,” said Rob Nall, Principal of RTC.

In addition to RTC, project lender Pathfinder Partners, LLC and Belfor, The Sanctuary development team now includes:
- Architect – Runberg & Associates
- Construction Representative –The Justen Company
- Interior Designer – Robin Chell Design
- Marketing and Sales – Realogics Sotheby’s International Realty

“Construction is well underway and includes many design improvements recommended by brokers and prospective homebuyers,” said Nall. “We’re retooling the homes for today’s market – resetting prices while adding value to the finished product.”

According to Marty Goodman, principal of The Justen Company, the project scope now includes new clear and operable window systems to complement the historic stained glass in several units; elevator options; acoustical attenuation; refurbishing the central atrium; and restoration work on the historic exterior. In addition to warranties offered by manufacturers of installed systems and appliances, homeowners will benefit from a third party home warranty program that will be included with each sale.

“We’re fortunate that RTC and Pathfinder are investing substantial resources to reach the full potential of this extraordinary development,” said Goodman. Belfor Property Restoration, a division of Belfor Construction, is tasked with completing the construction of the 12 concrete and steel townhomes and restoring the historic façade of the original building.

“The homes are new construction with state-of-the-art building systems, designer finishes and premium fixtures and appliances throughout,” says Ross Minshull, site supervisor for Belfor, which has developed dozens of high-rise properties and restored a number of historic buildings. “At The Sanctuary, we’re building high-rise quality within a historic landmark – it’s the best of old and new.”

One of the most striking attributes of The Sanctuary is the central atrium, an expansive interior common area with 38-foot-high ceilings and a breathtaking stained-glass dome. Seattle-based Robin Chell Design is converting the atrium into a residential amenity that draws on the building’s history and architecture and provides a central hub for residents and guests alike.

“This project is matchless in concept, design characteristics, historical significance and overall quality of construction – especially at this price point,” said Chell, who will also design some of the project’s model homes. “Such a hybrid of rich, nostalgic features and modern design elements make this community unique in the Northwest, if not in the country.”

Although the official listings for sale are still several months away, Nall says two unit reservations have already been accepted with more expected in the coming weeks. Unit reservations provide prospective homebuyers with a first right of opportunity to purchase a particular home when it’s offered for sale.

“Every home is distinctive with unique floor plans and features so brokers and homebuyers are vying for the best possible selection,” said Nall.

Additional information on The Sanctuary can be found at www.LiveatSanctuary.com

Disclosure: The Sanctuary is an advertiser of Seattle Condos And Lofts.

Similar posts you may find interesting:

1. The Sanctuary Re-Opens January 28th
2. The Sanctuary Resurrected
3. First Church – Capitol Hill
4. Four Seasons, First Church, Danielle

Back in 2007, Pauls had proposed a 9-story glass enclosed townhome-style condominium called Arthouse. But, when the condo market collapsed this project fell by the wayside, but without the dignity of asphalt.

Early Arthouse rendering from 2007:

The new proposal is a 7-story building with approximately 140 residential units and 4-5 live work lofts with 90 underground parking spaces. The current design and housing marketplace suggests this will likely be apartments.

A design review meeting has been scheduled for this project.

Date:     Tuesday, August 23rd
Time:     5:30 PM
Location:     Seattle City Hall, Boards & Commissions Room

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Last year there were 550 new construction condos available on the market. This year there are only 300. That’s about a 40 percent absorbtion rate.

Not only have no new condo buildings sprouted up in Seattle since 2007, but there are no new condo construction or development projects currently in the works either.

I’m assuming the 2007 date is the last construction start since the the last downtown area condo development (excluding Volta) was delivered in 2009.

Overall, Seattle’s available for-sale condo inventory has decreased approximately 30% from last year’s level.

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“Finding a Way with Your IRA” – Investment seminar

Realogics Sotheby’s is hosting a seminar for leveraging IRA’s (Individual Retirement Accounts) for investing in downtown’s opportunistic real estate market. A panel of experts has been assembled to explore myths and facts with using IRA’s for income property, to discuss available financing options and the review the overall housing marketing in downtown Seattle.

Click for more info and to RSVP

7800 Plaza – Mercer Island

Mercer Island’s only new condominium is the 7800 Plaza building located in the island’s downtown town center. Completed last summer, the 24-unit concrete and steel built 7800 Plaza Condominium is down to its final 5 homes for sale — all are two-bedroom + den homes ranging from 1,300 to 2,000 square feet. The homes are available from $499,950 to $749,950.

Visit the 7800 Plaza website
View 7800 Plaza condos for sale

Gallery Condominium – Belltown

The Gallery Condominium at 2911 2nd Avenue in Belltown is close to selling out the building. After an auction and a buy now event earlier this year, the 233-unit Gallery has 14 new homes remaining for sale and is offering a 3% buyer bonus incentive. Current prices range from $230,000 to $405,000.

I took a look at a few of the remaining open one-bedroom homes and prices have reduced more than $100,000 from their 2008 levels…about a 31% decrease overall.

Amenities at Gallery include concierge services, two guest suites, a supper club with a private dining room and Sky Lounge, a lobby that features rotating exhibits by local artists and two rooftop view decks with grilling areas.

Visit the Gallery Condo website
View Gallery condos for sale

Upcoming Land Use Meeting

A second design review board meeting for the Joseph Arnold Lofts apartment building has been scheduled for June 28th. Joseph Arnold Lofts, which is being developed by the Schuster Group (Mosler Lofts) is located at 2700 Elliott Avenue, adjacent to the Bellora and the Klee Lofts.

When:     June 28, 5:30 pm
Where:    Seattle City Hall Room L280

Download the Joseph Arnold Lofts design guide (note: it’s a 55 MB file).

Disclaimer: Realogics Sotheby’s and Gallery Condominium are advertisers of Seattle Condos and Lofts at the time of publication.

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2116 4th Avenue – Belltown

The 40-story residential tower at 2116 4th Avenue has received conditional approval from the Seattle DPD. The proposed building is located next door to the Cinerama Theater and might be called Cinerama Tower.

The developer, HAL Real Estate Investments, is also moving forward on the Cameo project on Capitol Hill. A few of their previous condo projects include The Concord, One Pacific Tower, the Braeburn and the conversion the Site 17 and Newmark Tower buildings. So there is a possibility this building may end up as condos during the next construction cycle.

Joseph Arnold Lofts – Belltown

The design proposal for the Schuster Group’s Joseph Arnold Lofts is available at the Seattle DPD. While this project is being proposed as an apartment building, Schuster’s other Belltown project was the Mosler Lofts condominium.

Download the proposal (pdf)

2915 Rainier Ave S – South Seattle

An early design guidance meeting for a mixed-use 61-unit residential & commercial development in South Seattle. What makes this interesting is that it is being developed by Artspace, which has three live/work artist loft buildings in the Seattle area – Tashiro Kaplan Artist Lofts, Artspace Hiawatha Lofts and Artspace Everett Lofts.

The meeting is scheduled for 5:30 pm on Tuesday, May 24, 2011 at Well Spring Family Services (1900 Rainier Ave S).

View the land use bulletin

100 Republican – Uptown / Lower Queen Anne

Demolition has begun at the lot for the 100 Republican apartment complex in Uptown (old QFC lot next to the Seattle Center). This is a massive low-rise building that’ll contain 275 units centered around a central courtyard.

and finally…

2428 NW Market St – Ballard

AMLI Residential, a corporate housing and luxury apartment company, is proposing to build a large 300-unit residential complex near the heart of Ballard at Market and 24th Ave NW. AMLI’s other Seattle area buildings include the AMLI 535 in South Lake Union and the AMLI Bellevue Park in Bellevue.

An early design guidance meeting has been scheduled for 6:30 pm on Monday, May 23, 2011 at the Ballard High School Library.

View the land use bulletin

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1. Upcoming land use review meetings of note
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