The Seattle Condo Blog

The AVA condo and hotel project at 8th and Pine has become the latest development to officially be put on ice. At least for the time being. According to the Puget Sound Business Journal, AVA has suspended active sales and is holding off opening its sales center until the market improves. However, the developers plan to file for a building permit soon, though construction, assuming the permit and design reviews are approved, likely won’t begin until mid-2009.

The same article mentioned that Stewart and Minor, a lofts and hotel project, might get a makeover. The developer, GIS International, has indicated they are exploring other options for the parcel - apartments, an office building or an all condo project. GIS recently put its European Tower development on hold.

Coincidentally, AVA’s marketing team just sent out an update. Here’s what they have to say:

…As we prepare to submit for the final building permits from the City of Seattle, we continue to work closely with our contractor to secure the best possible construction pricing for our future owners. We anticipate receiving final project costing and entitlements by the second quarter of 2009, and will be in position at that time to finalize the construction schedule and occupancy date.

Later this summer, private preview appointments will be available for all Realtors and their interested homebuyers to tour the sales center. You will be among the first to preview the contemporary and sophisticated design palettes which have been custom created for AVA as well as explore home décor options.

GIS International announced they’re putting European Tower on the back burner due to current economic conditions. The exclusive one-home-per-floor tower currently has reservations for 6 of its 16 homes available which start at $2 million. The developer plans to wait till late this year before moving forward.

GIS is also the developer of the Stewart & Minor hotel and loft project in Denny Triangle. There hasn’t been any movement or information on that project since last Autumn. Given the news regarding European Tower, it’s likely Stewart and Minor went into deep freeze along with number of other downtown condo projects.

Source: DJC

Updated
The Stewart + Minor project (website), located on the edge of downtown in the Denny Triangle district, is anticipated to be one of Seattle’s most unique, sleek and customizable loft towers.

The 440 foot-tower will feature a hotel on the lower 14 levels and 168 loft homes on the upper 14 levels.

The concept is based on a 600 sq ft open one-bedroom design with an 18′ ceiling height. Buyers may elect to customize the base units with a 2nd mezzanine/loft-level that’ll reconfigure the unit to a formal one-bedroom plus den and two bathrooms. With the mezzanine/loft level, livable space is increased by nearly 50%. Buyers will also have the option to combine units creating larger living spaces. The mezzanine/loft level can either be included as an upgrade at purchase or added at a future date.

The main level layout is fairly similar to the 600 sq ft open one-bedroom units at The Gallery, except the kitchen does not extend as far into the living room area. All homes will come with an unfinished mezzanine level that covers the bath and part of the bedroom.

Interiors will feature floor-to-ceiling windows, exposed concrete columns, exposed metal ducts, solid surface floors and stainless steel appliances. The units are being designed to allow owners considerable interior personalization options. The building will be topped with a rooftop terrace and bar.

Homes are expected to start from the low-$400,000s to more than $1 million. The project is anticipating first occupancy in 2011 and expects to begin construction in late 2008 or early 2009. A sales presentation center will likely open by next summer.

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