1915 Second (Viktoria) - Page 6

flotown · March 11th, 2012, 01:52 AM

anyone venture a guess as to how the tower-spacing regs in the DMC affect the feasibility of the southernmost Justen building? Seems it would have to be <85'

LCIII · March 11th, 2012, 09:05 AM

Considering they have included both towers in the renderings for both projects I'd assume they've already worked that out...

Vashon118 · March 12th, 2012, 10:10 PM

03/12:

CityView Jim · March 12th, 2012, 10:33 PM

Wow! that was fast!!

Matt the Engineer · March 12th, 2012, 11:06 PM

I love the ghost image of the garage on that white wall.

LCIII · March 12th, 2012, 11:30 PM

SO great to see it gone! Thanks Vashon. I havent been over there these past couple days but Ill go past it on my way home now!

CityView Jim · March 13th, 2012, 12:30 AM

Anyone know if this is still going with the big mechanized garage below grade?

BoulderGrad · March 13th, 2012, 01:17 AM

Quote:

Originally Posted by CityView Jim

Anyone know if this is still going with the big mechanized garage below grade?

Was this one ever going to have that? Never recall seeing that.

I think you may be thinking of the Icon tower over by the space needle. That was on a very small footprint, thus requiring the mechanical garage.

CityView Jim · March 13th, 2012, 04:33 AM

Quote:

Originally Posted by BoulderGrad

Was this one ever going to have that? Never recall seeing that.

I think you may be thinking of the Icon tower over by the space needle. That was on a very small footprint, thus requiring the mechanical garage.

That tower too.

But check out the below grade design of this one - particularly last few pages: http://www.seattle.gov/dpd/AppDocs/G...endaID2397.pdf

Strange that there isn't a more recent design given active demolition.

CityView Jim · March 13th, 2012, 04:41 AM

And a press release:

http://seattletimes.nwsource.com/htm...iktoria13.html

LCIII · March 13th, 2012, 05:38 AM

LCIII · March 13th, 2012, 05:43 AM

Goodman, Harbor Urban pay $9.6M for Belltown site, plan apartment tower
Puget Sound Business Journal by Jeanne Lang Jones, Staff Writer
Date: Monday, March 12, 2012, 5:09pm PDT

The Viktoria Apartments, 1915 Second Avenue in Seattle’s Belltown neighborhood, will have 24 stories and 249 units. The apartment tower is scheduled to be completed in 2013.

Seattle’s Goodman Real Estate* * and the newly formed Harbor Urban LLC will break ground next month on a 24-story, 249-unit apartment tower at 1915 Second Avenue in Seattle’s Belltown neighborhood, the companies said in a release.
Goodman and Harbor Urban paid MacQuarie Autopark USA Inc. $9.6 million for the 0.30-acre property last week. Both real estate development firms have aggressive plans to build more apartment projects as demand for rental units in urban neighborhoods in the Seattle area drives up rents.
Harbor Urban recently raised more than $40 million to fuel its next round of development by selling two of its Seattle area apartment properties. Goodman, meanwhile, has at least 10 apartment projects in the works.
When completed in 2013, the Viktoria Apartments will include 37 studio units, 176 one-bedroom units and 36 two-bedroom units. Amenities will include a fitness room, yoga studio, theater/game room, business center and rooftop deck with a sky lounge equipped with a party room, full kitchen, pool table, bar and outdoor fireplace and barbeque.
MacQuarie Bank LTD of Australia acquired the deed to the three-story 1920s-era parking garage in lieu of foreclosure in September 2009. The grantor, Stewart & Second L.L.C., had paid $6.87 million for the property in January 2007.
Goodman and Harbor Urban L.L.C. are obtaining financing for the $95 million project through equity partner Capri Capital Partners* * L.L.C., a Chicago-based institutional investment adviser. Construction financing is being provided by the INDURE Fund in Washington D.C., which also has invested in Seattle-based Sabey Data Centers Properties.
The INDURE Fund is affiliated with Washington, D.C.-based pension fund adviser National Real Estate Advisors, which is wholly owned by the National Electrical Benefit Fund. That fund is sponsored jointly by the International Brotherhood of Electrical Workers* * and the National Electrical Contractors Association.

bgwah · March 13th, 2012, 05:50 AM

Good news. Hopefully they can come up with a better name, though. Or at least spell Victoria properly.

LCIII · March 13th, 2012, 05:59 AM

I like it. It's different.

BellevueBoy · March 13th, 2012, 09:15 AM

It's exciting to see this apartment boom in Belltown. I like seeing that part of the skyline continuing to get denser. It's a shame that one building got torn down, hopefully something will go up in it's place.

NW Mike · March 13th, 2012, 09:22 AM

We all new it was coming, but wow... Great read! Thanks for sharing LCIII..

LCIII · March 13th, 2012, 09:27 AM

Just happy to help! It's an exciting time with so much going on simultaneously!

CrazyAboutCities · March 13th, 2012, 05:14 PM

Nice rendering!

JiminyCricket · March 14th, 2012, 02:52 AM

Quote:

Originally Posted by bgwah

Good news. Hopefully they can come up with a better name, though. Or at least spell Victoria properly.

Viktoria...

Maybe they are going after Russian immigrants.

SteveM · March 14th, 2012, 03:42 PM

I'm excited about this project, too, but it's also a reminder that we *have* to figure out how to get construction costs down in this city. $95,000,000/249 = about $380,000/unit in construction costs, and it's mostly one-bedrooms. There's no way that can compete with stick-built townhouses surrounded by parking in greenfield areas for anyone except the specialized market with big $ and small space requirements.

So even though they won't make as much of an impact on the skyline, I'm more excited about some of the mid-rise pre-fab experiments getting underway than I am about this guy.

(To be clear, I'm not saying I don't think people can learn how to live in less space -- people of all incomes have figured it out in Manhattan, Hong Kong, etc. -- but I think a $450,000 sales price or comparable rent for a 1BR is a lot to ask of most people in Seattle, even given the lower transportation costs associated with a great location.)

March 13th, 2012, 09:22 AM	#116
NW Mike Registered User Join Date: Feb 2007 Location: Seattle,Bellevue,Everett Posts: 961 Likes (Received): 43	We all new it was coming, but wow... Great read! Thanks for sharing LCIII.. __________________ The less you know on any given subject, the more in-depth you can debate that subject.

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March 11th, 2012, 01:52 AM	#101
flotown Registered User Join Date: Jun 2006 Posts: 286 Likes (Received): 0	anyone venture a guess as to how the tower-spacing regs in the DMC affect the feasibility of the southernmost Justen building? Seems it would have to be <85'

March 11th, 2012, 09:05 AM	#102
LCIII Registered User Join Date: Jun 2011 Posts: 2,871 Likes (Received): 64	Considering they have included both towers in the renderings for both projects I'd assume they've already worked that out...

March 12th, 2012, 10:10 PM	#103
Vashon118 Bus & ferry dude Join Date: Feb 2008 Location: Vashon Island Posts: 707 Likes (Received): 104	03/12:

March 12th, 2012, 10:33 PM	#104
CityView Jim Registered User Join Date: Feb 2006 Posts: 3,965 Likes (Received): 64	Wow! that was fast!!

March 12th, 2012, 11:06 PM	#105
Matt the Engineer Registered User Join Date: Dec 2011 Posts: 1,093 Likes (Received): 94	I love the ghost image of the garage on that white wall.

March 12th, 2012, 11:30 PM	#106
LCIII Registered User Join Date: Jun 2011 Posts: 2,871 Likes (Received): 64	SO great to see it gone! Thanks Vashon. I havent been over there these past couple days but Ill go past it on my way home now!

March 13th, 2012, 12:30 AM	#107
CityView Jim Registered User Join Date: Feb 2006 Posts: 3,965 Likes (Received): 64	Anyone know if this is still going with the big mechanized garage below grade?

March 13th, 2012, 04:41 AM	#110
CityView Jim Registered User Join Date: Feb 2006 Posts: 3,965 Likes (Received): 64	And a press release: http://seattletimes.nwsource.com/htm...iktoria13.html

March 13th, 2012, 05:38 AM	#111
LCIII Registered User Join Date: Jun 2011 Posts: 2,871 Likes (Received): 64

March 13th, 2012, 05:43 AM	#112
LCIII Registered User Join Date: Jun 2011 Posts: 2,871 Likes (Received): 64	Goodman, Harbor Urban pay $9.6M for Belltown site, plan apartment tower Puget Sound Business Journal by Jeanne Lang Jones, Staff Writer Date: Monday, March 12, 2012, 5:09pm PDT The Viktoria Apartments, 1915 Second Avenue in Seattle’s Belltown neighborhood, will have 24 stories and 249 units. The apartment tower is scheduled to be completed in 2013. Seattle’s Goodman Real Estate* * and the newly formed Harbor Urban LLC will break ground next month on a 24-story, 249-unit apartment tower at 1915 Second Avenue in Seattle’s Belltown neighborhood, the companies said in a release. Goodman and Harbor Urban paid MacQuarie Autopark USA Inc. $9.6 million for the 0.30-acre property last week. Both real estate development firms have aggressive plans to build more apartment projects as demand for rental units in urban neighborhoods in the Seattle area drives up rents. Harbor Urban recently raised more than $40 million to fuel its next round of development by selling two of its Seattle area apartment properties. Goodman, meanwhile, has at least 10 apartment projects in the works. When completed in 2013, the Viktoria Apartments will include 37 studio units, 176 one-bedroom units and 36 two-bedroom units. Amenities will include a fitness room, yoga studio, theater/game room, business center and rooftop deck with a sky lounge equipped with a party room, full kitchen, pool table, bar and outdoor fireplace and barbeque. MacQuarie Bank LTD of Australia acquired the deed to the three-story 1920s-era parking garage in lieu of foreclosure in September 2009. The grantor, Stewart & Second L.L.C., had paid $6.87 million for the property in January 2007. Goodman and Harbor Urban L.L.C. are obtaining financing for the $95 million project through equity partner Capri Capital Partners* * L.L.C., a Chicago-based institutional investment adviser. Construction financing is being provided by the INDURE Fund in Washington D.C., which also has invested in Seattle-based Sabey Data Centers Properties. The INDURE Fund is affiliated with Washington, D.C.-based pension fund adviser National Real Estate Advisors, which is wholly owned by the National Electrical Benefit Fund. That fund is sponsored jointly by the International Brotherhood of Electrical Workers* * and the National Electrical Contractors Association.

March 13th, 2012, 05:50 AM	#113
bgwah honk!!! Join Date: Oct 2002 Location: Kirkland, WA Posts: 1,752 Likes (Received): 78	Good news. Hopefully they can come up with a better name, though. Or at least spell Victoria properly.

March 13th, 2012, 05:59 AM	#114
LCIII Registered User Join Date: Jun 2011 Posts: 2,871 Likes (Received): 64	I like it. It's different.

March 13th, 2012, 09:15 AM	#115
BellevueBoy Registered User Join Date: Apr 2004 Posts: 1,058 Likes (Received): 0	It's exciting to see this apartment boom in Belltown. I like seeing that part of the skyline continuing to get denser. It's a shame that one building got torn down, hopefully something will go up in it's place.

March 13th, 2012, 09:27 AM	#117
LCIII Registered User Join Date: Jun 2011 Posts: 2,871 Likes (Received): 64	Just happy to help! It's an exciting time with so much going on simultaneously!

March 13th, 2012, 05:14 PM	#118
CrazyAboutCities Registered User Join Date: Feb 2007 Location: Seattle, Washington Posts: 8,332 Likes (Received): 17	Nice rendering!

March 14th, 2012, 03:42 PM	#120
SteveM Registered User Join Date: Mar 2007 Posts: 482 Likes (Received): 3	I'm excited about this project, too, but it's also a reminder that we have to figure out how to get construction costs down in this city. $95,000,000/249 = about $380,000/unit in construction costs, and it's mostly one-bedrooms. There's no way that can compete with stick-built townhouses surrounded by parking in greenfield areas for anyone except the specialized market with big $ and small space requirements. So even though they won't make as much of an impact on the skyline, I'm more excited about some of the mid-rise pre-fab experiments getting underway than I am about this guy. (To be clear, I'm not saying I don't think people can learn how to live in less space -- people of all incomes have figured it out in Manhattan, Hong Kong, etc. -- but I think a $450,000 sales price or comparable rent for a 1BR is a lot to ask of most people in Seattle, even given the lower transportation costs associated with a great location.)