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Belltown Real Estate

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The construction for Seattle’s first modular apartment building is already underway at 3rd Avenue and Bell Street, where workers are building the foundation and street-level space for the residential structure. These new Belltown Seattle apartments will be made individually at a factory in Oregon, to be stacked one by one when they’re finished in a style reminiscent of LEGOs.

‘N’ Habit: Belltown will be located near 3rd Avenue and Bell Street, with 49 rental units. While the base is being erected right now, the units are undergoing construction in a factory in Klamath Falls, Oregon. The factory assembly allows for faster, more efficient construction as well as evading any delays caused by bad weather. With this process, each unit is built in about 10 days, a SeattlePI.com report said.

When the units arrive by truck in the next couple of months, they will be fully complete with all finishing, plumbing, wiring, fixtures, appliances and flooring. “When the units show up, we like to say everything except the shower curtain and the toilet paper’s in place,” said Dale Sperling, the president and CEO of OneBuild, the apartment’s construction company.

“We consider them great, big, large Lego blocks, and they’re going to be attached, they’re going to be stacked, unit-by-unit over two weekends,” Sperling said in a KOMO News report (watch it below).

The current plan is that the units will be trucked to Seattle in September, and then put into place over two weekends. They are expected to require one hour each to stack into place and connect all plumbing and wiring. According to the ‘N’ Habit website, the units will be available for rent in December of this year, with studio apartments, double-lofts, and typical one- and two-bedroom units.

With the speed and quality going into these new modular units, will we see more LEGO buildings in Seattle in the future?

Featured photo from KOMONews.com.

Belltown is catching up to South Lake Union on the grounds of construction and real estate development! As Curbed Seattle reported last week, a new Belltown residential and retail building is going to be built near Tilikum Place in the neighborhood.

The building will have 161 residential units, with retail space on the ground floor. There will be a total of 14 stories, with four levels of underground parking to fit up to 114 vehicles.

It doesn’t have a name yet – just the address of 2720 Fourth Avenue. According to the drawings of the building, it will be a modern structure with strong expression. Hewitt, a local architecture firm, completed the plans for the project.

2720 Fourth Avenue was acquired from Fisher Broadcasting & Seattle TV, LLC in May 2011 by HB 4th & Denny, LLC. It was transferred to 4th and Denny, LLC just a couple of weeks after the City of Seattle’s issuance of the excavation permit for the site in April of this year.

Once the project is complete, there will be fantastic iconic views for the residents of the new Belltown building.

“If proximity and height are any guide, 2720 Fourth Avenue will offer the city’s best residential views of the Space Needle, at least for those units that can see over or around Fisher Plaza, located across Denny … substituting new homes and street-level retail for surface parking near a major landmark is a clear victory for urbanist values,” reads Curbed.

The site is located in the north end of Belltown, on the corner of 4th Avenue and Denny near Tilikum Place and the Chief Seattle statue. It used to be a third-of-an-acre parking lot for KOMO News. It’s one of the smallest new high-rise developments in the neighborhood.

Visit Curbed Seattle for more plan images and information.

Featured photo from Seattle.Curbed.com.

Costar, a Washington State Commercial Real Estate information company has released the list of recipients for their annual Power Broker Awards. The winners for the top retail leasing brokers include Tom Graff, and Cameron Kent of Ewing & Clark, who together have established a strong leasing presence in the Belltown area, among other neighborhoods. What are the awards based on you might ask? The Power Broker Awards are given to those in the community who  have an outstanding performance in what is now an increasingly competitive commercial real estate market. Performance is based on their overall leasing transaction volume for the previous year, as reported by Costar, and measured against all of the active commercial real estate brokers in their market.

Congratulations to Mr. Kent and Mr. Graff for their achievements in the industry! As Costar is among one of the largest research organizations in the US, being recognized as one of the top real estate firms and deal makers around should be considered a great achievement. For more information on the 2012 Power Broker Awards, visit Costar.

The parking lot on the corner of 1st Avenue and Vine street is getting developed into apartments! As reported Tuesday by the Daily Journal of Commerce, the Schuster Group is purchasing the property with the intent to develop it for a 12-story building that will contain 132 apartments.

Keeping with the style of the greenway on Vine Street, the Schuster Group plans to include a plaza on the corner of Western, as well as winding sidewalks toward the waterfront. An upper patio will provide excellent views of Elliott Bay.

To be located at 2521 Western Ave., the new apartment building will be called the Walton Lofts, and look to be a great addition to our Belltown real estate!

Featured concept photo credit to The Schuster Group

A Vulcan Real Estate project in Belltown that was originally approved as a high-rise condo building will now be constructed as apartments, said Vulcan representatives this week.  Because of the high demand for rentals in Seattle, Vulcan switched gears and hopes to open the building in 2013.  The building, called The Martin, will be 24-stories high with 188 apartments at Fifth Avenue and Lenora Street.  For more information, please see the Seattle Times article.