Vulcan Developments (Veer Lofts, Enso, Rollin Street)

The future residential pulse of Vulcan’s 60-acre South Lake Union re-development relies on three developments under construction: The Veer Lofts, slated for completion in early 2008; Rollin Street, to be finished in spring of 2009; and Enso (across from 2200 Westlake), scheduled to be done in the winter of 2009. The three condominium developments are helping vitalize a neighborhood still realizing its potential. The South Lake Union Streetcar, connecting SLU and downtown, hopes to figure prominently in the lives of all three’s residents. First phase of sales on these developments ends July 31st. The Sales Office has hinted that prices on all three may rise on August 1st at the start of the second phase.

Veer Lofts, a 99-unit complex on 9th and Harrison, primarily targets first-time homebuyers. Flats, flexi-lofts (5-ft loft ceilings) and full-lofts (8-ft loft ceilings) are available. Relatively affordable units originally started in the mid-$200,000s (the least expensive unit currently availableis in the mid $300k’s). Flexi-lofts top out around 740 sq ft with a max price around $600K. Full-lofts start at 800 sq ft, increasing to almost 1100 sq ft. These price out at $500,000-$700,000. There is also one penthouse available at $925,000.

Rollin Street is considerably larger, housing 208 units. Most flats are extremely open - walls will be rare. Prices begin in the $400,000-range and can head over $1 million.  Smaller square footage begins at an already roomy 700 sq ft and progresses to over 2,000 sq ft.  There are penthouse options as well. Rollin Street is located at Westlake and Denny, across from 2200 Westlake.

Enso is to be  a 19-story tower of 135 condominiums. Large open one-bedroom floorplans start in the $400,000s and penthouses can climb over $1.5 million. A typical two-bedroom unit will stay just shy of $1 million. Studios are 700 sq ft, one-bedrooms run to 900 sq ft and 1br+den will run to 1000 sq ft. Two-bedrooms start at 1100 sq ft and head upward of 1300. A penthouse unit can be nearly 2300 sq ft, in either a 1- or 2-story residence.

Update: The Museum of History and Industry is coming to South Lake! MOHAI article

Leona - Seattle

Situated between the charming boutiques of Upper Queen Anne, and the vibrant nightlife of Lower Queen Anne, lies a historic landmark undergoing renovation. The Leona, located on the corner of Ward St and Queen Ave N (with the quaint address of 1 Ward St), offers its residents the chance to walk to either, depending on their mood. Originally built in 1909, the timeless brick exterior of the structure remains intact. The interior however, is undergoing a complete transformation -  infusing a fresh, contemporary vibe.

During the Preview Event, interested visitors were witness to a simple and fun ploy to help them visualize the layouts. No walls existed - so kitchens, bedrooms and living areas were all defined in orange spray paint. What was evident was the potential views, especially from the upper floors. For units on the western side, a natural view corridor down Queen Anne Ave runs all the way to Elliott Bay.

Developed by Barrientos LLC, there are 18 units in the Leona. 13 are standard condo flats, with the smallest managing to still clock in at over 800 finished sq ft (>1,000 when including a below-height office space). The largest 2-bedrooms tip the scales at 1,425 sq ft.  The other five units are brand-new structures. Two 2-story penthouses sit atop the building. Each are 2br+den/2.5ba residences just shy of 2,100 sq ft. The three townhomes are between 2250-2900 sq ft, extremely spacious for Queen Anne. No unit in Leona prices out over $2,000,000, and units start at $375,000.

Leona’s luxurious finishes mesh well with Queen Anne’s sophisticated vibe. Stainless Sub-Zero fridges, Viking ranges and Bosch dishwashers are all standard, as are stone slab counters and stone tile bathroom floors. Wool carpets are in bedrooms with hardwoods throughout living areas. Rare in a smaller restored building, an elevator will be put in and the developer is creating a private parking garage.

Sales are currently underway, with a third of the building under contract.

Quick Facts:

1. Location: 1 Ward St
2. # Units: 18
3. Website: www.leonaliving.com
4. Pricing
   1. 1 bedrooms: $425k - $515k
   2. 1 bedroom + den: $640k-$695k
   3. 2 bedroom + den: $775k
   4. Townhomes: $1.295 -$1.895
   5. Penthouses: $1.895 - $1.995
5. Estimated Completion: Dec. ‘07 / Jan. ‘08
6. Structure: Brick

Vida - Bellevue

The 12-story, 240-unit complex will be built by Tonsing Properties out of Denver, Colorado. Originally the developer planned to erect a 6-story low-rise building, but the strength of Bellevue’s condo market made for a more ambitious endeavor. The smashing success of MODA , Tonsing Properties’ Belltown venture, also lends credibility to the developer’s vision of European-style living spaces. MODA sold out in one week, with buyers ecstatic over the prospect of $150,000 Belltown condos. Some of its sub-300 sq ft units seemed to challenge even the most compact urbanite, but Seattle showed it is ready for European living efficiency.

VIDA won’t ask its potential owners to dip below 400 sq ft, but the sheer number of compact units is setting a new Bellevue standard. A typical VIDA condo will average 650 sq ft. The smallest studios will be 400 sq ft. The largest (non-penthouse?) two-bedroom units will be roughly 900 sq ft and will list at $650,000. The most common VIDA units will be priced in the $350,000-$450,000 range. <Penthouse price N/A>

Each unit’s layout can conform to match the owner’s stylistic choices. Instead of fixed walls, interiors will feature flexible interior panels. The owner will be able to create larger great rooms or more stylized spaces, depending on his/her lifestyle. In-line kitchens and wall-storage mounts will also serve to maximize functionality.

VIDA is set for completion in 2010.

• Location: 111 Ave NE & NE 8th St
• Pricing: N/A
• Units:  240

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