Another Unique Project Offers Bulk Buy Option for Buyers!

Eleven Eleven East Pike is also taking part in the “bulk sales” approach in efforts to sell one-third (nine) of their vintage designed homes in one of Capitol Hill’s most trendy areas.  Auctions don’t typically do as well if it’s not one of the first to take place, so the bulk buy strategy seems to be getting some momentum when it comes to reducing prices and attracting new buyers.

With the first release of homes being released at prices between $255k and $379k, price reductions are down 20 to 25 percent from their original list price.

As with the bulk buy option that was set up for Decatur, buyers can get in for a refundable deposit of only $500 until the end of the month, and they must be scheduled to close by November 30th.

Developer William Justen is also reported in a DJC article expressing some concern for needing to take this approach since the address is somewhat of a boutique project designed by an acclaimed architecture firm.

“It doesn’t seem to matter what a buyer is willing to pay anymore, it only matters what an appraiser thinks because that affects what a lender is willing to lend,” said Justen. “The reality is that our industry is being commoditized by the lender community, and that means that a niche development like Eleven Eleven East Pike, which was never designed for the masses, is nevertheless being held back by a homogeneous appraisal market”.

The project is certainly unique with its red exterior, custom-designed puzzle walls, along with Cupcake Royale occupying its retail space.  The project is located on a section of East Pike Street filled with eclectic shops like the Ferrari/Maserati/Alfa Romeo store, a couple of different record stores, tons of pubs, and just as many small diners.

Other projects designed by Olson Sundberg Kundig Allen Architects include 98 Union, Hillclimb Court, Pike and Virginia Building and the redesign of Merrill Place–all very desirable properties with unique boutique addresses.

Merrill Place – 97 South Jackson Street, Seattle, WA 98104

Address: 97 S. Jackson St., Seattle, WA 98104
Neighborhood: Pioneer Square

CONDOS FOR SALE

Here you can find all active listings at Merrill Place. If your dream condo is not listed, sign-up to be instantly notified by email.

Sign-Up to receive an instant email notification of new Merrill Place condos for sale as soon as they hit the market. Membership also includes a monthly review of all activity for this building.

DESCRIPTION

Located in the heart of Pioneer Square, Merrill Place is an original loft style community just steps away from shopping, restaurants, and nightlife.  The entrance opens up to a private courtyard with a large water feature and secondary entrance to Il Terrazzo Carmine.  Originally built in 1905, Olson-Walker Architects and NBBJ Group received an Honor Award from AIA in 1985 for redesigning the building.   Homes still feature exposed wood beams, exposed brick walls, and floorplans gracious on square footage.  The community of only 16 units rarely has homes on the market making this address highly desirable.

PICTURES

BUILDING DATA

• Year Built: 1905
• Number of Units: 16
• Number of Stories: 4
• Exterior: Brick
• Parking: Common Garage
• Pets: No Restrictions
• H/O Dues Included: Earthquake Ins., Garbage, Water/Sewer
• Common Property Features & Amenities: Disabled Access, Elevator, Lobby Entrance, Security Gate

NEIGHBORHOOD BUSINESS

• Beba’s Delicatessen
• Cowgirls Inc
• The Cutty Shark
• Dept of Social & Health Svcs
• Elliott Bay Book Co
• FX McRory’s
• Il Terrazzo Carmine
• Kagedo
• Palace Rug Gallery
• Seattle Fitness
• Studio 904
• US Post Office

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ADDITIONAL OPINIONS & REVIEWS

*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.

1900 First Avenue Hotel and Condominiums, or Apartments?

Olson Sundberg Kundig Allen Architects have recently filed an application for 70+ new downtown area residentail homes to be constructed on the corner of 1st Avenue and Stewart Street.

Lead architects Tom Kundig and Kirsten have posted the project’s details on their website, which refers to the residential portion as apartments. However, as noted in the name of the project, it seems as though these will be condos. The Department of Planning and Development website states that the 11-story structure will feature 75 residential units, 110 hotel rooms, over 12,000 square feet of retail space, and below grade parking for 325 vehicles.

• Residential units with views to courtyard and Elliott Bay.
• Lower height to the West to provide views, light, and air to courtyard.
• Interior courtyard with retail entrances, Hotel lobby, and valet entry.
• Courtyard opening to First Avenue.

• Courtyard open to Southern and Western sun.
• Link to Inn at the Market.
• Prominent view axis from First Avenue.

• Roof gardens.
• Residential units.
• Hotel.
• Auto and service access.
• Retail and public.
• Pedestrian Access.

We’re just interested to know if the residential portion is going to be condos, or apartments?

Eleven Eleven East Pike Update

Eleven Eleven East Pike is really taking shape in its Pike/Pine triangle neighborhood of Capitol Hill. Each unit will be flooded with natural light from a wide expanse of north or south facing windows. And beyond are fantastic views of the Pike/Pine streetscape, as well as the Space Needle, downtown Seattle, Elliott Bay and the Olympic mountain range. Eleven Eleven East Pike is the brainchild of Tom Kundig, award-winning architect and principal at Olson Sundberg Kundig Allen, and Anne Michelson, long-time Capitol Hill resident, business owner, property manager, building owner and developer. It will be completed this fall.

Exterior shot of Eleven Eleven East Pike. Notice the large windows and modern roof line, as well as the tree being carefully protected during construction.

Residents will benefit from a lot of natural light streaming in from the over-sized north and south facing windows.

This is the view looking west from the shared rooftop terrace, which will be wired for a gas grill.

98 Union – 98 Union St., Seattle, WA 98101

Address: 98 Union St., Seattle, WA 98101
Neighborhood: Downtown

CONDOS FOR SALE

Here you can find all active listings at 98 Union. If your dream condo is not listed, sign-up to be instantly notified by email.

Sign-Up to receive an instant email notification of new 98 Union condos for sale as soon as they hit the market. Membership also includes a monthly review of all activity for this building.

DESCRIPTION

Designed by Olson Sundberg Kundig Allen Architects, 98 Union is located near Pike Place Market on 1st Avenue. The development was previously known as South Arcade Condominiums because of it’s attached location to the South Arcade entrance into the market. The locaiton is also just a short distance from the Seattle Art Museum, Benaroya Hall and Westlake Center. Floorplans are generous in size and most western facing units have spectacular sound views.

PICTURES

BUILDING DATA

• Year Built: 1985
• Number of Units: 76
• Number of Stories: 13
• Exterior: Stucco
• Parking: Common Garage
• Pets: Subj to Restrictions
• H/O Dues Included: Cable TV, Central Hot Water, Earthquake Ins., Garbage, Water/Sewer
• Common Property Features & Amenities: Cable TV, Concierge, Disabled Access, Elevator, Exercise Room, Fire Sprinklers, Lobby Entrance, Security Gate

NEIGHBORHOOD BUSINESS

• Benaroya Music Hall
• Goldmine Jewelry
• Islander Restaurant
• Merry Tails
• Northwest Tribal Art
• Pike Place Market
• The Purple Cafe
• Rocky Mtn Chocolate Factory
• Seattle Art Museum
• Triple Door
• Tully’s Coffee
• Westlake Mall

VIEW NEIGHBORHOOD MAP

ADDITIONAL OPINIONS & REVIEWS

*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.

New Boutique Hotel Proposed for 1st and Stewart

Touchstone Development (same company developing West 8th) has proposed a new mixed-use hotel project which will be built on the two parking lots one block south of One Pacific Tower. The 11-story “sister” project for the Inn at the Market will include 100 hotel rooms, 75 luxury apartments and 5,000 to 15,000 square feet of retail space. This is also another project to be designed by Tom Kundig who has also getting some recent recognition for his first condominium development at 1111 E. Pike. DPD’s design review is schedule for April 22nd. The same block is has also had other development proposals which include a 24-story condo tower, and a 38-story hotel/condo tower.

CLICK IMAGE TO ENLARGE 

Update for Eleven Eleven East Pike

Hosted by ek Real Estate Group at Boom Noodle in Capitol Hill, the new 1111 E. Pike Street development by Tom Kundig looks like it will be a great new edition to the hill. Generally, when an architect announces that a project will be their first (condominium project), it’s commonly a red flag. However, there’s always exceptions. Kundig’s design blends well with it’s neighboring structures and homes have an excellent use of space with moving walls and big, wide, open windows.

Floor plans include fourteen open one-bedrooms, twelve traditional one-bedrooms and one two-bedroom penthouse priced from the mid $200’s to low $500’s (penthouse priced over $800k) with square footage ranging from 600 to 1125 square feet (average 700 square feet). Design features include nine-foot ceilings with floor-to-ceiling windows, in-unit movable hanging puzzle walls, custom-built “Urban RV” movable storage and countertop units and a modernist roof line. The project is also built green and it’s location’s Walk Score is a 98. Amenities include a lobby and rooftop terrace. ek Real Estate Group also made sure that the area’s nightlife was communicated as a selling point (although late night noise may not be pleasing to many).

There also won’t be much of an emphasis on presales, so be sure to watch for these homes to hit the market come Fall 2008 if interested.

• More from Matt –
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Hillclimb Court – 1425 Western Avenue, Seattle, WA 98101

Address: 1425 Western Ave., Seattle, WA 98101
Neighborhood: Downtown

CONDOS FOR SALE

Here you can find all active listings at Hillclimb Court. If your dream condo is not listed, sign-up to be instantly notified by email.

Sign-Up to receive an instant email notification of new Hillclimb Court condos for sale as soon as they hit the market. Membership also includes a monthly review of all activity for this building.

DESCRIPTION

Rarely available, these homes have one of the most desired locations in the city with Pike Place Market just outside the front door. Designed by award-winning Olson Sundberg Kundig Allen Architects, the building links the market with Seattle’s waterfront. The community also features a private courtyard and retail pavilion which are designed to create a visual buffer and block noise from traffic. Units also feature high windows and very unique floor plans.

PICTURES

BUILDING DATA

• Year Built: 1982
• Number of Units: 39
• Number of Stories: 4
• Exterior: Cement/Concrete
• Parking: Common Garage
• Pets: Subj to Restrictions
• H/O Dues Included: Cable TV, Earthquake Ins., Garbage, Water/Sewer
• Common Property Features & Amenities: Cable TV, Courtyard, Disabled Access, Elevator, Laundry Room, Outside Entry, Security Gate

NEIGHBORHOOD BUSINESS

• Alibi Room
• Bottega Italiana Gelato Caffe
• Highway 99 Blues Club
• J & J Gifts & Sportswear
• Market Cellar Winery
• Pike Place Market
• Rocky Mtn Chocolate Factory
• Spanish Table
• Western Grocery

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ADDITIONAL OPINIONS & REVIEWS

*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.

Eleven Eleven East Pike – 1111 E. Pike St., Seattle, WA 98122

A select group of real estate professionals have been invited to attend an event which will unveil plans for 27 new residential homes designed by Tom Kundig. Principal at Olson Sundberg Kundig Allen Architects (architects for the Pike & Virginia Building), Mr Kundig’s laundry list of credentials include:

• Recipient of a 2007 Academy Award in Architecture from the American Academy of Arts & Letters.
• Princeton Architectural Press released Tom Kundig: Houses in 2006.
• Finalist for the 2005 National Design Award for Architecture, sponsored by the Smithsonian’s Cooper-Hewitt National Design Museum.
• Recipient of a MacDowell Colony Fellowship.
• One of eight North American Emerging Architects by the Architectural League of New York and was elected to the College of Fellows by the American Institute of Architects (AIA) in 2004.
• Awarded a total of twenty-three AIA awards, including four recent National AIA awards (for The Brain, Chicken Point Cabin, Delta Shelter and Tye River Cabin).
• Published in over 250 publications and exhibits featured in many locations worldwide.

This is Tom Kundig’s first condominium project and their public relations company has boasted that although these would “normally have a hefty price tag,” Eleven Eleven East Pike will be a “rare opportunity(ies) for high design at a more affordable price.”  You can view more renderings and project description on the OSKA website.

Here are some award-winning buildings by Kundig:

[youtube=http://www.youtube.com/watch?v=P9VLvmY7dk4]

Pike and Virginia – 87 Virginia Street, Seattle, WA 98101

Address: 87 Virginia St., Seattle, WA 98101
Neighborhood: Downtown

CONDOS FOR SALE

Here you can find all active listings at Pike and Virginia Building. If your dream condo is not listed, sign-up to be instantly notified by email.

Sign-Up to receive an instant email notification of new Pike and Virginia Building condos for sale as soon as they hit the market. Membership also includes a monthly review of all activity for this building.

DESCRIPTION

The Pike and Virgina Building is one of just a couple locations where your front door enters Pike Place Market. The 8-story concrete and glass building is also the first to have been built in Pike Place Market’s historic district in 50 years. The building has an industrial design and condos have floor to ceiling windows with extraordinary views of the Puget Sound and passing ferry boats. Building is also recognized for it’s award winning architect Olson Sundberg Kundig Allen Architects of whom won the Seattle AIA Honor Award for Pike and Virginia Building in 1979.

PICTURES

BUILDING DATA

• Year Built: 1978
• Number of Units: 15
• Number of Stories: 8
• Exterior: Cement/Concrete
• Parking: Common Garage
• Pets: Subj to Restrictions
• H/O Dues Included: Cable TV, Central Hot Water, Garbage, Water/Sewer
• Common Property Features & Amenities: Cable TV, Elevator, Fire Sprinklers, Lobby Entrance, Outside Entry, Security Gate

NEIGHBORHOOD BUSINESS

• BeaZu
• Chef’s Depot
• Chocolate & Ice Cream Delight
• Coupe Rokei
• Habits for the Home
• Kells Irish Restaurant & Pub
• Le Pichet
• Lisa Harris Gallery
• Maggie’s Shoes
• Market Graphics
• Market Groceries and Deli
• Mexican Grocery
• Pensione Nichols
• Pike &Western Wine Shop
• Pike Market Medical Clinic
• Pike Market Senior Center
• Pike Place Grocery & Deli
• Seattle Cutlery
• Soames-Dunn Bldg
• Taxi Dogs
• The Pink Door
• The Tasting Room
• Turkish Delight
• Virginia Inn

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ADDITIONAL OPINIONS & REVIEWS

*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.