Seattle Commercial Real Estate News of the Day

Tuesday, November 22, 2011

Find Space Now! Seattle Times Daily Journal of Commerce Headline
Our lease listings Homebuilder Toll Brothers buys CamWest Development Unico building 236 Interbay apartments
Our sale listings Holland Partners proposes SLU apartment project Unico Properties is starting construction on the 236-unit Slate Apartments & Lofts at 3040 17th Ave. W., in the Interbay neighborhood.

Fish Mackay Architects designed the project, and W.G. Clark is the contractor. Bank of America Merrill Lynch is the construction lender.

Unico declined to provide the project cost or anticipated rents, though a year ago Unico Senior Vice President Jonas Sylvester said a development of this size “does not come cheap.”

In a project fact sheet, the Seattle-based company said Slate will target renters who want to live close to downtown but have “a little bit more room for a little bit less rent.” Eighty percent of the units will have market-rate rents. The rest will be set aside as affordable housing.

The six-story project will have retail space at the corner of 16th and Dravus. The housing will wrap behind existing retailers Starbucks, Red Mill Burgers and the Pandasia restaurant. There will be 204 parking stalls and charging stations for electric cars. Units will have 9-foot or higher ceilings, and many will have patios or small balconies.

Amenities will include a fitness center, an outdoor terrace, media room, conference room, p-patch, dog walk, dog-wash station and bicycle workroom. Web-based software that provides real-time bus information will be installed in the lobby.

Unico will re-use some materials and fixtures from Russell Investments Center, a downtown office tower that it manages.

Known as an owner and manager of office, medical office and retail, Unico began acquiring and developing multifamily properties about five years ago.

Slate will bring its apartment portfolio to more than 1,535 units in the greater Seattle and Portland areas, according to Unico’s website.

Our local office profile Economy grew at 2 percent rate in third quarter
Green broker info
Market Research Puget Sound Business Journal
Knowledge center Bank of America warned to shore up bank or face action
Research reports Gregoire proposes temporary sales tax increase to help balance budget
Articles & white papers Bill Gates calls for big boost in federal clean energy spending
Weekly market insight
2011 forecast
Enjoy Your Reading! How happy are you, Seattle?
Commercial Property Executive Boeing may pull out of Wichita
Daily Journal of Commerce Real estate profile, Nov. 21, 2011
CoStar Group
GlobeSt Other News
National RE Investor Energy efficiency: Plenty of data, many confused landlords
Realty News Report City Program Expands, More Buildings to Improve Energy Efficiency
Real Estate Business Architect earns statewide honor for Swedish/Issaquah design
Reis REI Opens a Base Camp in SoHo in Manhattan
Commercial Post As Layoffs Rise, Stock Buybacks Consume Cash
New York Times Shoreline receives $10.8 million in grants for Aurora Corridor

About CRE Northwest

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