The Seattle Condo Blog

A couple of new condo developments are coming to Green Lake. With significant revitalization projects underway on the Northeast end of the lake, it’s good to see new developments on the West side. Information is sparse, and subject to change, but this is what I’ve been able to gather so far.

Tyee At Greenlake

Currently under construction at 7201 Aurora Avenue N, site of the old Twin Teepee’s Restaurant, is Tyee At Greenlake. The 4-story project will include 24-units plus commercial space on the ground floor. Note: early information referred to Tyee as apartments but the developer’s project summary report refers to Tyee as condos.

7200 Aurora Ave N
Proposed on the other side of Aurora from Tyee is a 4-story, 28-unit condo development at 7200 Aurora Avenue N. The project will incorporate retail on the ground level with a roof top deck for residents. The site is currently occupied by a Shell gas station so it’ll be some time before this project comes to fruition.

Both of these projects straddle Aurora Avenue with units facing Aurora. Other projects along Aurora tend to have a buffer (hallway) between the highway and the units to mitigate traffic noise, so these might be a tough sell. On the other hand, the location will draw people, especially for 7200 Aurora which is located directly across the street from Green Lake Park.

Nearby businesses include Beth’s Cafe, The PCC, Uber Tavern, Duke’s, BluWater Bistro, World Wraps, Aurora Suzuki and Stupid Prices. By the way, has anyone noticed the color scheme along this stretch of Aurora? It seems to have started with Stupid Prices’ loud yellow paint color. Since then businesses along Aurora, from 73rd to 80th, have followed suit with facades awash with a bold color palette.

The Molnick Group is proposing a new condominium project at the site of the Shell gas station on Aurora Avenue at the NW corner of Green Lake. The parcel is close to the tennis courts and Bath House Theatre.

The proposal is for a 4-level structure with 28 units and retail space on the lower level.

An early design review meeting is scheduled later this month:

Monday, August 20th at 6:30 PM
University Heights Community Center
5031 University Way NE, Room #209

Capitol Hill:

The developer for the 514 E. Pine Street, the strip on Pine between Summit & Belmont, has filed an application for a 6-story 106-unit residential building, plus retail space. The SLOG has a rendering and a lively discussion.

A hearing has been set for 1827 Broadway, where Chang’s Mongolian BBQ used to be, and the adjoining parking lot. The proposal is for a 6-story 65-unit residential building with a restaurant at street level. Wednesday, April 18th at the Yesler Community Center at 8:00 PM.

Green Lake:

A supplemental hearing as been set for 7104 Woodlawn Ave NE, the former Vitamilk block. The proposal is for two 6-story buildings consisting of 236 residential units and retail space. Monday, April 16th at the University Heights Community Center at 8:00 PM.

Downtown:

The 1800 Terry project, the old Regence Building, has received a design review conditional grant for its 30-story 261-unit residential tower.

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).

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.

As there has been quite a bit of interest with the Florera project in the Green Lake neighborhood, I thought I’d review the last major development built in the area – The Greenlake Condominium.

Constructed in 2004, The Greenlake is situated right across the street from Florera on NE 70st & Woodlawn Ave NE (map). The structure consists of two 6-story buildings that surround a central courtyard with retail stores at street level. The complex consists of 106 studio, one and two-bedroom homes.

Many units feature:

• Hardwood & carpet flooring
• Granite or tiled countertops
• Stainless steel appliances
• Breakfast bar
• Decks or balconies
• Pet-friendly

The Greenlake Condominium is just a block from Green Lake Park, Starbucks, Anderson’s Nautilus and a number of restaurants and shops.

So, how has values fared for homeowners? The following shows activity from 3/1/06 through 2/28/07. Overall, homeowners enjoyed a nice, healthy return on their investment.

The Greenlake was the first major project in the redevelopment of the commerical area Northeast of Green Lake Park. It replaced the BMW motorcycle shop, gas station and apartments that sat on the lot. The Florera is being built on the old Key Bank lot (Key Bank will be the major commercial tenant in the new building). And, eventually, the Vitamilk parcels will be redeveloped into either condominiums or apartments and retail space. On the other side of Ravenna Blvd, new retail and residential housing have been proposed for the old Albertson’s lot.

Not far from Seattle’s most active park sits Florera Greenlake (website will be updated shortly) the newest condominium project in the Green Lake neighborhood. Developed by Pryde+Johnson, Florera is a green constructed building featuring finishes made from sustainable resources and is targeting LEED Silver certification. The project is located at the corner NE 70th and NE Ravenna Blvd (map).

Florera features 80 studio, one-bedroom, one-bedroom + den and two-bedroom homes which will be completed in two phases. Phase I, which has been topped off, features just over 50 homes and is expected to be completed this October. Phase II, where the current sales office is located, will include 18 units and is expected to break ground later this Spring with a 2008 completion date.

Standard features & amenities include:

• Choice of finishes – Zen, Quarry, Bathouse
• Bamboo Flooring
• Eco-terrazzo countertops
• Terraces or balconies
• Stacked front-loading washer & dryer
• Roof top deck with BBQ
• P-Patch for residents
• Central courtyard
• A common Amenities room (club room, wi-fi)
• A Flexcar
• Pet-friendly, two pet limit w/breed restriction

All homes come with one parking space though the larger two-bedroom corner units have two parking spaces. Storage will be available as an option ($4,500 to $6,000) that’ll be located in the Phase II building, so residents will need to wait till 2008. Views of Green Lake are available from the 4th floor units and roof top deck.

• Studios range in size from 572 to 583 sq ft and priced between $329,950 to $344,950
• One-bedrooms range in size from 640 to 795 sq ft with prices from $349,950 to $455,950
• One-bedroom + Alcove or Den range in size from 784 to 912 sq ft with prices from $405,950 to $495,950
• Two-bedrooms range in size from 920 to 1,201 sq ft and are priced from $595,950 to $849,950

View Price List (PDF)

As of today (2/24), nine homes have been sold. The sales office is open Friday thru Monday, 11 AM to 4 PM or by appointment. The sales office includes finish samples and floor plates, but there are no vignettes or model available.

Pre-sale process:

• Select preferred plan and take a hard hat tour. Tour appointments are available on the weekends from 11 AM to 3 PM on the hour.
• Earnest Money is due at time of the purchase and sale; homes up to $349,950 require a $7,500 deposit, homes from $350,000 to $499,000 require a $10,000 deposit, and homes over $500,000 require a 3% deposit.
• Pre-qualification by the preferred lender, Wells Fargo ($1000 buyer bonus towards closing costs).
• Public Offering documents and HOA dues info will be provided within 60 days of the purchase and sale.
• Your own buyer’s agent can assist you with the pre-sale process.

Prices are comparable to city-core developments, though Green Lake properties do come at a premium. Deciding to buy and live at Florera is a lifestyle choice. It does not have many common amenities; developers took into consideration that most residents would take advantage of Green Lake Park just two blocks away. And, unlike downtown, Florera is the only major condominium project in the area and the first at Green Lake in over 4 years.

Please see the updated review post – Florera Greenlake Condos.

The Florera Greenlake will open its sales center to the general public on Sunday, November 12th at 10:00 AM. The Florera is an 80 unit building just a couple of blocks from Green Lake (corner of Ravenna Blvd & NE 70th St) and is targeting LEED Silver certification (green construction).

A special by-appointment preview event will be held on November 11th for those who pre-registered on their website.

I don’t necessarily know if these are condo or apartments at this point, but given the size of the projects, I’m guessing condos.

Ballard @ 22nd Ave NW & NW 56th St
A 160-unit building with retail store front.

Queen Anne @ Lee St & Dexter Ave N
A 7 story 49-unit building with retail store front.

Green Lake @ Woodlawn Ave NE & NE 71st
Encompasssing an entire block, the project includes 236-units and 54,000 sq ft of retail space.

Wysong announced a condo conversion of the Empress Building, an 88-unit apartment building located on 5th Avenue at Yesler. The conversion will be named Tobira Condominiums and sales are expected to begin in 2007 with pricing starting just under $200,000.

Update (10/21/06): Units range from 490 to 1,080 sq ft. Like many conversions, Empress residents will be given an opportunity to purchase their unit.

Midtown

On a side note, the developer for Stewart & Terry filed a land use application for a 34-story 300-unit building.

UPDATE: Please see the Florera Greenlake review post.

Located at the old Key Bank lot on Ravenna Blvd, Florera is one of the few new green buildings currently under construction.

Florera will include 80 studio, one-, two- bedroom units. Expected occupancy is set for Summer 2007. Visit Florera Greenlake.