Seattle Commercial Real Estate News of the Day

Wednesday, October 12, 2011

Seattle Times Daily Journal of Commerce Headline
Boeing delivers first 747-8 Freighter without hoopla AvalonBay buys U District site for 284 apartments and retail
Companies posted fewer job openings in August 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.

Retailers hope spooky holiday will scare up loads of sales
Puget Sound Business Journal
Seattle just misses U.S. 10-best list of credit scores
Get ready! Alaskan Way Viaduct closing for 9 days on Oct. 21
Q&A with Wells Fargo exec Mary Knell
First Boeing 747-8 delivery today
Federal Way mulls distribution of job creation money
State will consider extending Seattle bar hours
Other News
Piedmont Office Realty Trust Secures
Estate of businessman lists in Redmond West
Cross-border Investment in the US Growing
Moratorium in Tacoma questioned
DealBook: Liz Claiborne Sells Portfolio of Brands
The U.S. Has More Wireless Devices than People

About CRE Northwest

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