Everything is Changing at ESCALA

We got wind of some big news happening over at ESCALA.  To begin with, the sales center is currently closed for approximately three weeks to discuss a new direction for the building.

Since all the statements below are still being considered and negotiated, there are no specifics in stone at this time.  However, the statements following are all the things that are being discussed.  Currently, everything is on the table.

First off, The Homeowner Dues (HOD) appear to be high and they are looking at ways to reduce them.  One way to address that would be to reevaluate the relationship between the Club Cielo and the condominium units.  There is a strong chance the club use will be separated from the condominiums.  We do not know details on how this will affect owner use, or what additional charges may be for use of the club.  If this is the direction taken, it would give owners the option to participate in the club, rather than the current structure which assumes membership.  This should be a savings for those who do not wish to be a member.  If this is indeed the direction that is taken, the question is how much of the club (if any) will be available to the owners without an additional fee.  According to our sources, ESCALA is very sensitive on making this work for buyers.  Therefore we would be surprised if the amenities were to not be included–such as the gym.  There are a lot of options for the team to discuss.  We think this will be very important to watch for before any decisions are made on moving forward.

The pricing will be also be addressed.  Out of respect of the current buyers, we will not know what kind of price reductions will be determined until after that process is completed.  We expect to see a big marketing splash in February with new pricing better representing the current economy.

Also, exciting news from behind the scenes is that the entire sales team is new.  John L. Scott agent Erik Mehr from Team Builders will be taking over sales.  Erik has a great reputation for moving inventory quickly.  The marketing team will be headed by Bob Rennie from the very impressive Rennie Marketing firm.  We are very excited to see what this team comes up with.

In regards to financing, there is wording in the original Public Offering Statement (POS) that the owners have the ability to use a unit as a time share.  This caused difficulties in obtaining financing.  This is being removed from the POS. We’ve yet to hear anything about any preferred lenders or what limitations will be in regards to investment purchases.

Another thing that is in conversation is what the current buyer options are.  Earnest and upgrade money are being discussed.

Stay tuned to see what happens in three weeks.  We will be on top of this along the way and will be posting news as we get it.  If you want to be automatically updated on news about the ESCALA, please subscribe to our RSS feed.  For past information on the project review our past articles.

For other updates you can get via email, you can either subscribe to our blog posts to the right of this page, and/or receive instant email updates for new Escala listings as they reenter the market on the MLS.

Cynthia Johnson named Club Cielo Membership Director

John 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.

Newest Private Club in Seattle Announces Co-Chairs

Club Cielo, the first new private club to open in Seattle in more than two decades, today welcomed Ken and Cathi Hatch as founding co-chairs of the advisory committee. The 25,000-square-foot club will be a key feature of the luxurious ESCALA condominium project now under construction at Fourth Avenue and Virginia Street in Seattle’s Midtown district.

As founding co-chairs of Club Cielo, prominent community members Ken and Cathi Hatch will help share the excitement about the club’s programs and offerings through their business and social networks, and will contribute ideas for club events.

Managed by Seattle-based Columbia Hospitality, Inc., Club Cielo will be a private club for social gatherings as well as a place of wellness and relaxation for homeowners, their guests and other club members.

Cathi Hatch is the founder, president and chief executive officer of ZINO Society, LLC, an angel investment organization connecting accredited investors with entrepreneurs seeking funding while promoting camaraderie in the business world. For more than 30 years, Cathi has served in executive management and as a consultant for restaurant operations and concept developments. She has also served in leadership positions for a number of community boards. Cathi currently serves on two public company boards and the Board of Trustees of PONCHO, as well as the boards of the Pacific Northwest Ballet, YMCA, PACE (Performing Arts Center Eastside) and the United Way of King County.

Ken Hatch is CEO of Hatch Enterprises, Inc., which he founded in 1997 to provide organizational and communications consulting for corporations in transition or crisis. With a career in management in all segments of broadcasting, Ken served as a senior executive overseeing operations in Seattle, Dallas, Kansas City, New York City and Chicago, among other cities. From 1980 to 1995, he served as chairman, president and chief executive officer of KIRO, Inc., located in Seattle.

“We are honored to have both Ken and Cathi involved with Club Cielo,” said John Oppenheimer, CEO and president of Columbia Hospitality. “We believe we’re creating something truly extraordinary, a lasting legacy for our region.”

Club Cielo will occupy the entire second floor of ESCALA and will feature a spa and fitness center with two stationary lap pools, steam rooms, massage therapy, treatment rooms, exercise classes and personal trainers. Club members will have access to a private dining room and bar as well as an exclusive wine cave with controlled-climate wine storage. A select number of memberships will be available to non-homeowners.

“We are delighted to be part of this wonderful new opportunity for Seattle,” said Cathi Hatch. “It’s been a long time since we’ve had a new private club downtown, and Club Cielo is already proving to be just the type of venue we’ve been waiting for, with signature dining and a stone-laden wine cave and spa.”

ESCALA – 1920 4th Ave., Seattle, WA 98121

Address: 1920 4th Ave., Seattle, WA 98121
Neighborhood: Downtown

CONDOS FOR SALE

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DESCRIPTION

Everyone has talked, blogged and heard about it. Lead by Escala’s visionary, John Midby of Las Vegas real estate development group The Midby Companies. John Midby is also a principle of Seattle based LEXAS Companies known for their national development of mixed-use residential developments. Also on the team is structural engineers Cary Kopczynski and Company, Seattle’s own landscape architects Weisman Design Group Inc., San Diego’s Thoryk Architects and Seattle’s MulvannyG2 Architects. Interior design by DiLeonardo whose portfolio includes the Ritz-Carlton in Egypt and Crowne Plaza in New York. The 330 foot luxury high-rise will include 274 homes and range from 900 to 4,500 square feet with the lower exterior will be covered with stone, precast concrete, and Greek columns with decorative cornices. Penthouse units up to an amazing 16,000 square feet. Amenities include 25,000 square feet consisting of a private club with exercise room and spa, theater, bar and lounge, wine cave and membership to Club Cielo Private Social Club. In addition to luxurious amenities, homes themselves feature a private elevator entrance, hardwoods throughout and Bosch appliances.

PICTURES

VIDEO

BUILDING DATA

• Year Built: 2009
• Number of Units: 274
• Number of Stories: 31
• Exterior: Cement/Concrete
• Parking: Common Garage
• Pets: Subj to Restrictions
• H/O Dues Included: Central Hot Water, Earthquake Ins., Garbage, Water/Sewer
• Common Property Features & Amenities: Cable TV, Concierge, Exercise Room, Lobby Entrance, Pool-Indoor, Security Gate, Spa, Social Club, Theater, Wine Cave

NEIGHBORHOOD BUSINESS

• 5th Ave Corner Cafe
• Avis Rent-A-Car
• Bed Bath & Beyond
• Ben Bridge
• Borders Books & Music
• Cold Stone Creamery
• Coldwater Bar & Grill
• Diamond Park 2
• Il Fornaio
• Macy’s
• Mariners Team Store
• Pacific Place
• Quality Food Market
• Rite Aid 319 Pike
• Sleep Country USA
• Westin Hotel

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.