Seattle Commercial Real Estate News of the Day

Tuesday, October 11, 2011

Seattle Times Daily Journal of Commerce Headline
Seattle Times seeks developer for historic HQ site AvalonBay buys U District site for 284 apartments and retail
Should Seattle spend millions to plan more streetcars? 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.

Return of The Reignman | Steve Kelley
Puget Sound Business Journal
Fauntleroy Place site sold for $32M
Tacoma’s Reed family No. 9 on list of largest US landowners
Rosellini, nation’s oldest living ex-governor, dies at 101
Home ownership suffers biggest drop since Great Depression
Residents irked over potential design changes to light-rail route
Alaska Airlines launching Seattle-Kansas City service
Other News
Boeing decision gives new life to Renton plant
Tech companies lead ‘renaissance’ in Seattle’s Pioneer Square
DC Metro Doing Perfectly Fine without Government Growth
Boeing delivers 127 airliners in 3Q
CRE Execs More Bearish Based On Economy and Govt. Impact
Construction Spending Rises In August, But Activity Still Weak

About CRE Northwest

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