Seattle Commercial Real Estate News of the Day

Tuesday, October 4, 2011

Seattle Times Daily Journal of Commerce Headline
Annex most of the rest of North Highline? Burien council passes ‘resolution of intent’ AvalonBay buys U District site for 284 apartments and retail
State eager for trade pact with South Korea Records show AvalonBay Communities paid University District Parking Associates $12 million for a 1.3-acre site that is southwest of 12th Avenue Northeast and 47th Street in the University District.

The site is near where Sound Transit plans to build the Brooklyn light rail station. King County assesses the property at just over $6.9 million.

GGLO is designing apartments for the site. AvalonBay Communities Vice President Brian Fritz said yesterday the company has reduced the size of the project from 385 to 284 units. It will have 11,700 square feet of retail as well as parking. The number of parking stalls was not immediately available.

AvalonBay does its own contracting. Construction is scheduled to start in the second quarter of 2012, Fritz said.

He said the project will have fewer units than originally planned because the company wants to build a wood-frame complex rather than a more costly concrete and steel one. Zoning allows for construction of up to 85 feet. The height limit for a wood-frame building is 70 feet, which is how tall the AvalonBay project will be.

Bernanke says economic recovery close to faltering
Puget Sound Business Journal
Boeing: $760B market for North America jets
Sprint seen as ‘betting the company’ on iPhone
What does a $2M loft-condo in Seattle look like?
Late surge sends stocks higher
Apple unveils more powerful iPhone
Boeing expects U.S., Canadian airlines to buy 7,530 jets by 2030
Other News
Johnson Capital Closes 17 Loans Across US
Saint Croix Apartments Sell for $23.7M
Kohl’s holiday hiring plans could mean jobs in Puyallup, Lacey
Opus Bank Moves Headquarters to Irvine, California
Barclays, BofA Mull Sale of Archstone Stakes-Source
Russell eyes the summit

About CRE Northwest

Specialist in office & investment real estate in Seattle & the Eastside
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