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Cynthia Johnson named Club Cielo Membership Director

July 27, 2009 by  
Filed under ESCALA, Featured

cynthia-johnson-club-cieloJohn Midby, principal of LEXAS Company, has announced Seattle designer, entrepreneur and business leader Cynthia Johnson as Membership Director for Club Cielo at ESCALA.

Johnson joins the ESCALA team after a successful career as an entrepreneur, having owned or partnered in a number of successful businesses specializing in home and office design and furnishings.  Most recently, she was an owner and partner of London Flat, a home furnishings design studio, and the owner of Cynthia Johnson Designs, a residential and commercial design company.  Previously she worked with Barclay Dean Interiors as Business Development Coordinator.  Other design companies she has owned include Cynthia Johnson Incorporated and Hunt Johnson Elsworth.

Johnson will be focusing on cultivating the membership group, and promoting the unique concept that Club Cielo will be bringing to Seattle for the 1st time in 20 years.  Midby feels that Johnson will be a valuable asset, considering her deep local relationships and entrpreneurial background.  The club will also bring unique business opportunities to its members, and we’re sure that Cynthia Johnson will be a key element in facilitating Club Cielo’s vision.

Realogics Acquires OnSite Assets

June 11, 2009 by  
Filed under ESCALA, Featured, Gallery, Parc, Puget Sound Region

President and CEO of Realogics, Dean Jones, is announcing their recent acquisition of Windermere “OnSite” brokerage assets, which has been responsible for over 1,000 presales during the condo boom in downtown Seattle and Bellevue.

“An independent brokerage provides us flexibility to explore all opportunities while ensuring both continuity and the highest level of professionalism for our developer clients, the real estate community and the homebuyers for which we serve,” said Dean Jones, President and CEO of Realogics, Inc.  “Realogics will now expand its offering beyond new construction to provide a broader spectrum of marketing and real estate services under one roof.”

Jones also announced that Sam Cunningham, prior Vice President of Windermere Builder Services, will be appointed as Designated Broker.

“We recognize the approaching dearth of new construction projects in the supply pipeline – so this acquisition is well timed for us”, said Pat Grimm, a co-owner of Windermere OnSite and the designated broker (and sole owner) of Windermere Real Estate / Capitol Hill, Inc. “Realogics is an exceptional marketing and sales enterprise and they are well positioned to manage their brokerage operations moving forward.”

Through personal experience with our clients, Jones and Cunningham have done a superior job in handling our clients’ needs throughout the transaction process, and we are excited to see a company like Realogics joining the team of boutique brokers in Downtown Seattle.  In the meantime, OnSite will retain their builder-oriented franchise agreement with Windermere Real Estate. Realogics has listed both Fifteen Twenty-One Second and The Parc, and helped Windermere Onsite assign agents to seller’s in-house sales teams at Escala, Gallery, Equinox and Bravern Signature Residences.  Realogics will also continue its relationship as a marketing partner with both Escala and The Bravern. The firm also launched an updated website.

Escala 2 Bedroom + Den/2 Bathroom

May 28, 2009 by  
Filed under ESCALA, Featured

Our photos didn’t turn out as fantastic as we had hoped, but we were able to just get a few of the South-facing 2 bedroom + den condo on the 20th floor.

escala_2_bed_south

We’ve placed them on an image of the floorplan so you can get an idea on what the unit is starting to look like:

Click for a much much larger image.

Click for a much much larger image.

Here are a few other noteworthy pics of a West-facing 2 bedroom unit:

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Escala Photos: 10th Floor 1 & 2 Bedroom Units

May 27, 2009 by  
Filed under ESCALA, Featured

Homes at Escala are just downright spectacular!  Everything from finishes, to floorplans, to views, and location is something to boast about.  The project is coming together very well and we’re excited to have a sneak peek for you.  Here are some 10th floor pics:

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10th Floor NW Corner 2 Bedroom

Every unit not only offered a spacious floorplan, but an eye popping view as well.

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10th Floor SE Corner 1 Bedroom

Even from the Southwest corner, which lacks the sight of the Space Needle and Puget Sound,  the open city view has been selling quite well. 

Back to the popular 2 bedroom floorplan on the Northeastern corner…

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10th Floor NE Corner Unit - Master Bedroom (Facing NE)

As you can see, with a view of the Needle, door to large patio, fireplace, large windows, and space for a king size bed, leaving for the office in the morning won’t be that easy–but then again, it could also be the best way to end the day.

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10th Floor NE Corner Unit - Master Bedroom (Facing NW)

Unfortunately, lights had yet to be installed in the bathrooms, so we were unable to get a quality shot.  Therefore, we’ll have to jump forward to where residents will enjoy breakfast and dinner.

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10th Floor NE Corner Unit - Dining Room/Kitchen (Facing SE)

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10th Floor NE Corner Unit - Kitchen (Facing E)

And how about that 2nd bedroom, office, or guest room…

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10th Floor NE Corner Unit - 2nd Bedroom (Facing E)

The patio.

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10th Floor NE Corner Unit - Patio (Facing N)

The patio photo above really does it no justice.  The space is fairly large, but the sun had already placed its noon position, so we stepped out a quite a bit to snap this one.

Western views from 10th floor 1 bedrooms.

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10th Floor Central Unit Living Room (Facing NW)

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10 Floor Central Unit Bedroom (Facing SW)

We’ll be posting 20th story 2 bedrooms tomorrow.  Here’s one of the floorplans.

Heron & Pagoda Facing Foreclosure

April 28, 2009 by  
Filed under Featured, Heron & Pagoda, MISC

The signs were all there. Heron and Pagoda was a “NEW YORK” style, 46 floor (550-feet) twin towers project.  However, New York developer Multi Capital Group is facing foreclosure on only an approximate half of the project, which is reported to hit the auction lot  in June.  Alec Carlin, of Hummingbird Advisors was quoted saying that he only found out about the foreclosure last week and that the project has been on the back burner.  The article also stated that Carlin said, “still on hold, waiting for the economy to change.”

A spokeswoman for Washington Secretary of State Sam Reed said ZRMBH (a Multi Capital affiliate that owns the three parcels) no longer is a legally recognized corporation. It failed to file a required annual report last October and was administratively dissolved in February, she said.

Topping-Off Ceremony at Escala

April 7, 2009 by  
Filed under ESCALA, Featured

John Midby

John Midby

What a beautiful day for such an event!  There wasn’t a cloud in the sky, the mountains were clearly visible in the background, two ferries could be seen passing through the Sound, the sun glistened off nearby towers, and a news helicopter stationed as position during the ceremony.  Even though John Midby needed some backup when trying to control the shift in weight of the concrete when it began to pour, the only thing that could have made the event better would have been to host the champagne and Longhorn BBQ lunch outside from the top.  Oh well. 

Regardless, it’s likely this milestone event may be another advancement in pushing another positive buzz for the project.  During the champagne toast, one of the speakers made a comment about how Escala is working to make a community that is livable and walkable, 24/7.  Another one of Escala’s team members later reminded us that it wasn’t long ago that the downtown area was once much more seedy than it is now–a place that was in fact 24/7, but not so walkable nor livable. Escala’s value truly does go much deeper than the hole dug beneath the ground floor, and much thicker than the massive slabs of concrete used to construct its walls.  There’s also some positive cultural intentions built into Escala.  Few companies seem to integrate a solid level of integrity into their efforts, but with Escala it’s readily seen.

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We’re really looking forward to seeing the interior of the building take shape.  Now, it’s incredibly difficult to not notice the new high-rise.  Just a few more floors of the emerald-colored glass will complete the project’s exterior, then current and future buyers can really start to visualize being part of a downtown Seattle holiday after closing.

To John Midby and the rest of the Escala team:

Congratulations!

escala_toping_off

Escala Construction Update

March 31, 2009 by  
Filed under ESCALA

Escala sent out a letter to their buyers with an update of the following:

Construction Topping Off Event

The final pour for Escala will be held on April 7th and has sent personal invites.

Homeowner Move-In Update

Escala wrote in their letter that many buyers have been starting to call asking questions regarding walk-throughs and closings.  Currently they don’t have dates scheduled but they’re working towards contacting each homeowner personally to make arrangements.  Their occupancy permit is scheduled for mid-September.  But, everything depends on construction agendas and weather.  Their anticipation is occupancy will begin in October/November 2009.

Interior Home Finish Schedule

Several floors of homes are said to be nearly complete and when all homes are completed, the homes will then be “sealed” with approval after the development team has had a chance to go through them all.

ESCALA Starts to Buzz – Media Coverage & Wine Cave Table

February 5, 2009 by  
Filed under ESCALA, Featured

In addition to our photos we took at ESCALA just last week, a lot of other media has surfaced recently as well.  If you’re following the progress of ESCALA closely, then you may have already seen the “In the News” email that was just sent out.

Probably the most interesting was the Daily Journal of Commerce article where developer John Midby is quoted for pointing out that only an estimated 659 condos will be delivered as new inventory by 2011.  When doing a search for solds in the downtown area from January 1st, 2008 through 2009, there were 446 sales.

So 659 new listings added to the market in 2 years, minus 2 years of an approximate 446?

No!  That 446 does not include many of the new construction sales.  So, the history of sold properties is often skewed (lower), hence the disclaimer in newspaper articles about basing their info on NWMLS data when reporting active, pending, and sold listings.  Many developers and other bullish industry professionals will expect to see another abnormal increase in prices in the next couple of years due to lack of inventory.  With ESCALA being the last new construction site to break ground since the increased restrictions on lending, Midby proves the value of ESCALA, even in this down market.

Read Article

Also, we have found Dean Jones, CEO of condo market analysis company Realogics, to be an excellent and reliable source for additional information when gauging the market since he specializes in the new construction arena.  King-5 recently featured a segment with a testimonial from an ESCALA buyer and he shares his excitement for the urban lifestyle.  The clip also recognizes an approximate 10% depreciation in home prices for October 2008 in the greater Seattle region.  However, the downtown area proves to be unique with only an approximate 3% depreciation.  Therefore, it’s unlikely that we’ll see prices decrease for presales at ESCALA.

View Clip

Another “buzz” that was recently published is about an Eastside professional who’s looking forward to ESCALA’s private social club.

“As an Eastsider, this is a chance to be a part of a facility where I can entertain clients in a high-end environment,” he explained. “The club has a broader scope than other clubs in the area and a higher estectic.”

Club Cielo will really raise the bar to clubs in Seattle, and be another talley mark for what our city has to offer when comparing to New York and San Francisco.  Fortunately for those in the know, ESCALA prices are still…low.

Read Article

Just in!

ESCALA’s wine cave table is here and in the shop.  We’ve got some pictures, but still waiting to hear more about the story behind the tree.

So Many Photos of ESCALA: New Construction/Hard Hat

January 27, 2009 by  
Filed under ESCALA, Featured

We took another tour of ESCALA yesterday with John Midby since it was such a beautiful day out.  Most of these view shots were taken from the 26th floor, and of course facing west.


However, many of the southern, eastern, and northern views were just as spectacular.  Midby assured us that there really hasn’t been too much preference on buyers choosing one direction or another.  It’s all been just a matter of preference.

The most exciting part of our visit was to see that some of the units are starting to get carpets and appliances.  The photos we took of the units that are undergoing completion are those on the 4th, 5th and 6th floors.

The amenity levels hasn’t changed much since our previous visit except for the addition of the lobby staircase.  There’s also some shape taking place in and around the pool area which is starting to help paint the picture of what everything will look like.  Other than that, ESCALA is moving along quite well and the views are more impressive than we had imagined.  The photos really don’t show how great they really are.  The view we probably spent the most time enjoying was the southern view down the 4th Avenue corridor.  If only the sun had been going down and the city lights lit up around us.

Heron Pagoda Towers – 1913 5th Ave., Seattle, WA 98101


Status: Postponed
Neighborhood: Downtown

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DESCRIPTION

Offering high-end hotel, condominium and office space, as well as deluxe retail space at ground level, developers of the 1.2 million-square-foot building at 1913 5th Avenue.  Above the glass-walled base, containing a large atrium, would rise the northern tower, nicknamed Pagoda. It would contain nine floors of hotel space, with 22 floors of condos above that.  Pagoda would be architecturally distinctive on its exterior to distinguish it from the all-residential south tower, nicknamed Heron. Separated from Pagoda by 70 feet, Heron would house 32 stories of condos.  Each sleek, angular tower would be topped by a V-shaped roof over a 50-foot-high combined open-air arboretum, roof garden and enclosed recreation space. Photovoltaic cells and microturbines would generate about 7 percent of the building’s electricity, and cisterns collecting rain would partly offset water use.

ADDITIONAL OPINIONS & REVIEWS

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*Data is deemed to be reliable, but not guaranteed. In some cases, number of units may include commercial and residential spaces and/or height may or may not include a 13th floor.

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