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New Lake Union Condos at Wards Cove: The Enclave

June 25, 2009 by  
Filed under Eastlake, Enclave, Featured, NBBJ

enclave_modelWhile developers are stalling on new projects, Trinity Real Estate, Inc released plans for a new 21-unit lakeside community today at Wards Cove–Lake Union.

SEATTLE, WA. (June 24, 2009) – Officials at Trinity Real Estate, Inc. today released plans for their newest project “The Enclave”, a 21-unit lakeside community nestled within the 5-acre redevelopment known as “Wards Cove” on Lake Union. The coveted site is considered by many the last of its kind on what is now a largely built-out waterfront in King County. Its developers say that the project is designed like a horizontal high-rise from a quality standpoint but unlike a high-rise, The Enclave can be developed in distinct phases to help with construction financing. The announcement arrives at a time when few, if any, new developments have commenced since the onset of the commercial credit crunch in the summer of 2007, two years ago.

“It’s one of those rare never before, never again opportunities that developers cherish,” says Michael Yukevich, Investment Manager and partner in Trinity Real Estate, Inc. “It’s an irreplaceable location and an unparalleled opportunity for our homebuyers to own the quintessential Seattle lifestyle.”

enclave_patioAmazingly, construction will start this year, and occupancy is planned for 2010!  The new lakeside community will consist of three-level, two bedroom plus den homes ranging from 2,500 to more than 3,000 square feet.  Homes will come with private garages and options include private elevators.  Additional amenities include access to the Wards cove Marina Club which includes a fitness center, conference facility, guest suite, and full-service moorage.

“The Enclave provides a compelling alternative to high-rise condo living by putting the penthouse right on the lakefront,” says Nick Glant, the listing agent with Northwest Group Real Estate. “For those that desire the sea, city and sky – we’ve got your address.”

Introductory pricing will start just over $1 million and Dean Jones (president of Realogics, and who will be marketing the boutique address) feels that the announcment and decision to move forward is a “savvy development practice right now.”  In the press release, Jones points out that today, new homes need to offer more unique attributes to make a difference.  For Seattle boaters, this may be a perfect chance to get an in-city home that has yet to come to our market–and never expected to come available again.