Perks and Downfalls of Keeping old Facades in New Construction

A number of the architects and developers involved in planning new apartment and condominium buildings around the city have voluntarily kept old facades from previous structures to incorporate in their new designs, but most often just divert the decision to the city’s landmark board for the final decision. Many seattleites have almost come to expect historical structures to be saved with all of the new development and future project plans, but why would a developer want to keep a facade when the landmark board deems the older building not historically significant? There was an interesting article today in the Daily Journal of Commerce, that pinpointed similar projects like the 1915 Terminal Sales Annex building on 2nd and Virginia, which will integrate the front of the annex in the base of a 38 story building that has plans to possibly include 190 condos, 154 hotel rooms, and 6,100 sf of ground floor retail space.

Location if the 1915 Terminal Sales Annex Building

Location if the 1915 Terminal Sales Annex Building

In the past 20-30 years, there hasn’t been alot of interest in saving the older buildings, but within the last few years, there has been recent changes to city rules, allowing developers to build larger projects if they preserve the facades of their previous historical structures, that are at least 75 years old. In turn, alot of the new apartment developers trying to take advantage of the rule could run into extra costs, as keeping some of the older facades that aren’t as structurally sound as the new construction could pose issues. For more information on those new apartment projects incorporating historical structures, visit the DJC.

Apartments Sold on Greyhound Station Block to Become Mega Hotel

Last week there were some notable commercial sales in and around Seattle, including one in the Denny Triangle that is staged to make way for a Mega Hotel downtown!

According to the Puget Sound Business Journal, Seattle based R.C. Hedreen Co. purchased two high rise apartment buildings on the same block as the Greyhound bus terminal for $7 million, and they have plans to build a 1,200 room hotel. Hedreen hopes  to get traffic from the convention center, and has since met with city officials to discuss early design guidance, and a possible office tower could be constructed on 8th and 9th Streets along Howell & Stewart. For more information on this project, follow the Puget Sound Business Journal.

Apartments Sold on Greyhound Station Block to Become Mega Hotel

Last week there were some notable commercial sales in and around Seattle, including one in the Denny Triangle that is staged to make way for a Mega Hotel downtown!

According to the Puget Sound Business Journal, Seattle based R.C. Hedreen Co. purchased two high rise apartment buildings on the same block as the Greyhound bus terminal for $7 million, and they have plans to build a 1,200 room hotel. Hedreen hopes  to get traffic from the convention center, and has since met with city officials to discuss early design guidance, and a possible office tower could be constructed on 8th and 9th Streets along Howell & Stewart. For more information on this project, follow the Puget Sound Business Journal.

Western Avenue Condo For Sale: $314,000

This lovely condo on Western Avenue, located at The Vine is located is close proximity to the Pike Place Market,  the Olympic Sculpture Park, and other shops and restaurants downtown. Built in 2002, the building was structured to include modern amenities in all units, including granite counter tops, stainless steel appliances, and a gas stove and fireplace; not to mention the 150 sf deck overlooking the Sound, and out to West Seattle!

This 1 bed 1 bath unit has beautiful huge windows over looking the city and Sound, and a great little build out in the kitchen separating the space from the living room. The building amenities include a 24 hr concierge, garage parking,  a fitness room, and ample storage space. For more information on unit or others in the Seattle area contact Ewing & Clark Inc.

Status: For Sale
Bed/Bath: 1,1
Price: $314,000

Rent Keeps Rising as Home Prices Plateau

Remember the days when renting was cheaper than buying? While rental rates continue to soar, in many states across the country, home prices are starting to level off. According to CNN Money, home prices have declined 0.7% over the past 12 months, and the median rent for all types of homes was set at $1,350/mo in March. Several metro areas are raising their rents into the double digits across the nation. For example, in Sarasota, FL the average rent rose 12.9% year-over-year,  making it the largest jump out of the 100 largest metro areas according to real estate site, Trulia.

Metro neighborhoods where prices skyrocketed were able to do so because of a few similar factors, including a rising demand for a limited supply of rental units. The overall national vacancy rate for apartment complexes, fell 0.3% during the first quarter, dropping to it’s lowest rate since 2001. In contrast, the cost of buying a home has decreased  in several areas over the past 12 months, and mortgage rates are at an all-time low. If you’re looking to buy in the Seattle area, here is a list of exceptional homes in the area.  Many are still skeptical of the optimistic outlook, because there is a high percentage of Americans who aren’t able to look into buying a home at this time, due to unemployment, low credit scores, etc and rental rates could continue to climb because of this factor. For an extended article, please visit CNN Money

Rent Keeps Rising as Home Prices Plateau

Remember the days when renting was cheaper than buying? While rental rates continue to soar, in many states across the country, home prices are starting to level off. According to CNN Money, home prices have declined 0.7% over the past 12 months, and the median rent for all types of homes was set at $1,350/mo in March. Several metro areas are raising their rents into the double digits across the nation. For example, in Sarasota, FL the average rent rose 12.9% year-over-year,  making it the largest jump out of the 100 largest metro areas according to real estate site, Trulia.

Metro neighborhoods where prices skyrocketed were able to do so because of a few similar factors, including a rising demand for a limited supply of rental units. The overall national vacancy rate for apartment complexes, fell 0.3% during the first quarter, dropping to it’s lowest rate since 2001. In contrast, the cost of buying a home has decreased  in several areas over the past 12 months, and mortgage rates are at an all-time low. If you’re looking to buy in the Seattle area, here is a list of exceptional homes in the area.  Many are still skeptical of the optimistic outlook, because there is a high percentage of Americans who aren’t able to look into buying a home at this time, due to unemployment, low credit scores, etc and rental rates could continue to climb because of this factor. For an extended article, please visit CNN Money